November corn grind, soybean crush up on year


November corn grind, soybean crush up on year

Solid demand meant minor changes to corn for ethanol use numbers during November.

The USDA says 454.987 million bushels of corn were used for fuel alcohol production in November 2023, down 1% from October, but up 1% from November 2022. Producer margins for the month were down from the highs of the year while still holding in positive territory.

Production of distillers dried grains with solubles was 1,796,675 tons, also down 1% on the month and up 1% on the year.

November’s soybean crush numbers reflected the good demand for soybean products and strong margins for producers.

The USDA says 200 million bushels of soybeans were crushed in November of last year, 1 million less than October’s all-time high, but 10 million more than the November 2022 total. Soybean meal and oil production were also slightly below the prior month and up solidly on the year.

The USDA’s updated corn for ethanol use and soybean crush estimates are out Friday, January 12th at Noon Eastern/11 Central.

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