According to a report from Reuters, U.S. ethanol production is set to lose around 2 billion gallons of production by the end of the week, according to the head of the Renewable Fuels Assn. trade group said on Monday.
In its March Feed Outlook report, the Economic Research Service of USDA is reporting continued strong demand from Brazil for U.S.-produced ethanol despite trade barriers enacted last year.
Most ag prognosticators agree that it would take a significant disruption to crop supplies to impact the prices of the major crops (corn, soybeans, wheat). With nearly all of the 2017 harvest in the bin, it’s readily apparent that this did not happen.
U.S. ethanol production in mid-June set a record and is poised for new all-time highs, as strong demand and the prospect of a “mini harvest” of corn is supporting margins, according to a report in agrimoney.com.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.