South central kansas |
USDA gave us a lower acres number on corn, which implies lower supply, but will they also give us lower demand as well, at some point?,
If ethanol production for w/e July 3 is down @ 17% y-o-y as the past 2 weeks have been , it will indicate crop-ytd corn for ethanol has declined @ 480 million bushels y-o-y. The upshot: USDA will need to revise their estimate lower for the year ending August 31. |
Corn used for Ethanol
