Corn Demand Cut

Published by David Tedrow on

The USDA  cut the estimate for corn used to make fuel in 2019/2020 by just under 400 million bushels this month. The ethanol industry has been hit hard this spring because  of falling crude oil prices and a reduction in the number of miles driven due to quarantine restrictions. 

 

A portion of the ethanol loss was made up by increased feed demand, but USDA expects corn carryout stocks to be about 200 million bushels larger than the March estimate.

Categories: Grains

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