Dollar consolidates after correcting off multiyear highs

In the second half of March, the U.S. dollar index spiked to its highest levels since late 2002. The index corrected lower in a six-session slide, finding support near its 20-day moving average. Despite some contrarian views, the dollar clearly remains the world’s preferred [...]

Corn stocks reported below industry estimate

As of Mar. 1, 2020, U.S. corn stocks were just over 7.95 billion bushels, down roughly 8 percent YOY and below trade expectations. A stocks figure under the industry estimate may suggest that 2019/20 production was lower than reported. Soybean stocks were just over [...]

Brazil center-south sugarcane campaign nears end

Brazil’s 2019/20 center-south sugarcane crush campaign will end this month and the 2020/21 campaign will begin in April. For the current campaign, total crush bested last year’s pace at 582.9 MMT of cane through mid-March, up 3 percent YOY, per UNICA. With the sugar [...]

Alcohol distillers shift to hand sanitizer

Growing up, when we kids got a scrape or cut, the playground advice was “Rub some dirt on it” to stop the blood. But then mom always had the hydrogen peroxide or rubbing alcohol to clean it. Kids never thought much about disinfectants, other [...]

Ethanol plunges to 17-year lows

Under the states’ urgent efforts to flatten the COVID-19 infection rate, the U.S. economy is slowing precipitously. Closing of schools, limiting social gatherings, and pushing corporations to go to skeleton crews are going to have far-reaching consequences, including a negative impact on gasoline and [...]

January corn used for ethanol up notably YOY

For the month of January, corn used for fuel alcohol totaled just over 469.46 million bushels, down just 2 percent from December but up almost 6 percent from January 2019. At this rate, corn use for ethanol production is on track to meet the [...]

December corn use for ethanol rose 4 percent YOY

Ethanol manufacturers used 479.2 million bushels of corn in December, the highest use volume since September 2018. Dry mills accounted for 431.5 million bushels, or 90 percent of the total and up 3 percent from a year ago. Wet mill utilization, at 47.7 million [...]

Crude production up, ethanol production down for 2020

On Jan. 6, after trending upwards since early October 2019, Feb-20 WTI crude futures reached a nine-month-high. The contract rose almost 3 percent after tensions were heightened between Iran and the U.S. following the U.S. killing of Iranian Major General Qasem Soleimani. Since Jan. [...]