Ethanol makers will use record amount of corn
Ethanol makers are expected to consume record amount of corn from the 2016 crop, according to the latest U.S. Department of Agriculture supply/demand report, released last week.
Corn used to produce ethanol was raised 50 million bushels to 5.45 billion, based on the most recent data from the grain crushings and co-products production report. It estimated the amount of corn used to produce ethanol to be record high during December-February.
However, the report reduced feed and residual use and left ending stocks unchanged for the 2016-17 marketing year.
U.S. corn production, forecast at 15.15 billion bushels, was unchanged from the March report.
The season-average corn price received by...
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