September corn for ethanol use, soybean crush down on month
Corn for ethanol use fell during September. USDA says 383.088 million bushels of corn were used for fuel alcohol production in September, a drop of 11% from August and 6% from September 2021.
That was due to some plants going idle or cutting back production for seasonal maintenance or because of blending demand uncertainties linked to high gasoline prices, in addition to tight local supplies of corn ahead of widespread harvest.
Production of distillers dried grains with solubles was 1,613,088 tons, a decline of 14% on the month and 8% on the year.
September’s domestic soybean crush was 168 million bushels. That’s 7 million less than in August, but 4 million more than September 2021.
The month-to-month decrease reflected the generally tight domestic supply of soybeans ahead of widespread harvest, while the year-to-year increase was indicative of the strong crush margins for most producers.
Soybean product production was also down on the month and up on the year, while soybean meal and oil stocks tightened due to strong demand.
The USDA’s next round of corn for ethanol use and soybean crush estimates is out Wednesday, November 9th at Noon Eastern/11 Central.