News

Corn grind, soybean crush up on month

Corn for use in ethanol production was mixed during January.

The USDA says 443.551 million bushels of corn were used for ethanol production in January, up 4% from the December 2022 total with fewer disruptions in major production areas from weather.

That’s down 4% from January 2022, with uncertainties about demand and weaker margins discouraging some producers.

That trickled down to distillers dried grains with solubles production, with the total of 1,714,389 tons 2% higher than the previous month, but 11% lower than the year before.

The January soybean crush was 191 million bushels. That was up 4 million from December 2022, propelled by strong domestic demand for soybean meal and oil, but down 3 million from January 2022 because of tighter soybean supplies.

For 2022, the soybean crush was 3% larger than 2021, with crude soybean oil production also 3% higher.

The USDA’s next set of corn for ethanol use and soybean crush estimates is out March 8^th.