U.S. ethanol, DDGS exports down in November
U.S. ethanol exports sagged in November.
The Renewable Fuels Association says exports of 81.4 million gallons were a three-month low, falling 3% from October and around 40% from November 2021. Canada was the top destination for the twelfth month in a row and shipments to South Korea were up on the month, but there were big drops in exports to Mexico and the European Union.
Global demand for U.S. goods is dictated by several factors, including the value of the U.S. dollar relative to other currencies, with the dollar starting November near the highs of the year before backing off.
The RFA says exports of distillers dried grains were 728,409 tons, a decline of 9% from the previous month and the lowest volume since May 2020. The biggest buyers were Mexico, South Korea, and Vietnam.
U.S. ethanol imports during November were 18.9 million gallons, all of that undenatured ethanol from Brazil.
For the first 11 months of 2022, U.S. ethanol exports were 1.28 billion gallons, 15% ahead of 2021, with DDGS exports at 10.12 million tons, 5% slower than the previous year, and U.S. ethanol imports at 77.2 million gallons, 32% above the year before.