Corn grind, soybean crush mixed on month, year
Corn for ethanol and soybean crush demand were both mixed during June.
The USDA says 441.479 million bushels of corn were used for fuel alcohol production during June, up 1% from May in preparation for summer driving season, but down 1% from June 2022 despite better margins and cheaper corn costs. Production of distillers dried grains with solubles totaled 1,787,735 tons, an increase of 5% on the month, but a decrease of 7% on the year.
The USDA says 175 million bushels of beans were crushed in June, a drop of 14 million on the month because of available supplies and concerns about margins, but that was still up 1 million from June 2022. Soybean meal and oil production were also down sharply on the month, up slightly on the year.
The USDA’s updated corn for ethanol use and soybean crush estimates are out August 11th.