Corn grind, soybean crush down on month, up on year
The USDA says June’s corn for ethanol use and soybean crush numbers were down from May, but up from June 2021.
Corn for ethanol use in June was 441.952 million bushels, 1% lower than the previous month, but 1% higher than a year ago, due to month-to-month and year-to-year differences in domestic prices and available supplies. Production of distillers dried gains with solubes during June was 1,918,611 tons, an increase of 1% on the month, but a decrease of less than 1% on the year.
June’s soybean crush was 174 million bushels, 7 million less than the month before, but 12 million more than last year, with refined soybean oil production falling 7% from May, but rising 3% from June 2021.
The USDA’s next set of supply and demand estimates is out Friday, August 12th at Noon Eastern/11 Central.