Ethanol producers used 462.7 million bushels of corn in June, up 6 percent from last June. From September through June, 2017/18 corn use totaled 4.6 billion bushels, up 3 percent year over year and 83 percent of USDA’s season forecast of 5.6 billion bushels. Last June, cumulative use also stood at 83 percent of 2016/17’s eventual total utilization.
September through May, 2017/18 ethanol production was up over 2 percent vs. 2016/17, while domestic use by blenders and refiners remained about the same as last season. Ending stocks in May, however, were down 1 percent from a year ago, thanks to exports, which were over 215 million gallons in both February and March and were 18 percent higher in total this season vs. last. Exports accounted for about 10 percent of cumulative 2017/18 production, up from 9 percent of Sep-May production in 2016/17.
Corn Utilized for Ethanol