Ethanol exports reach record high of 1.75B gallons

In Washington, Reuters reports record ethanol exports saw stocks dip last week despite strong production, helping to offset record production that is taking advantage of cheap corn and low natural gas prices. Ethanol producers are reaping in hefty crush margins as a result despite gasoline demand not having yet returned to pre-pandemic levels. Census data showed exports for 2023/24 reach a record of 1.75 billion gallons. Canada has taken more than a third of the export volumes while 13% went to the UK.