Corn-for-ethanol use higher than expected
Corn-for-ethanol use increased to 485.8 million bu. in December, according to USDA, up 18.9 million bu. (4.1%) from November and 54.1 million bu. (12.5%) above the previous year. Ethanol use was 7.2 million bu. greater than traders anticipated. Total corn use for ethanol and other industrial purposes rose to 539.3 million bu., up 20.5 million bu. (4.0%) from November and 59.6 million bu. (12.4%) greater than December 2020.
Dried distillers grains with solubles (DDGS) production increased to 2.073 million tons, up 3.8% from November and 16.0% above year-ago.
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