|
SC Iowa | values were driven lower after failure at 7.35......then folks got on the worry bandwagon about further cuts in ethanol production.....when that did not happen, it has allowed a rally from the 7.145 low today back to 7.21......
expect this to be a week by week saga as plants decide whether to keep running, slow down, or stop
now, if enough plants cut back that ethanol price shows some strength----well, then you get Brazil interested in sending some ethanol to US
going to be a lot of twists and turns with ethanol balance of the year......about the only thing I feel for certain---we will NOT grind 4.5 byn corn for ethanol in US in the current year.....how much less is a crapshoot given all the X factors in play.... | |
|
Corn futures recovering at 10:45 CST
