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Fontanelle, IA | Jon - do you know how much "new" ethanol plant capacity has been brought online since 2011?
I have been thinking about White Shadow's post (referring to yours) about margins at the plant level. With corn basis maybe 15-20 cents stronger than normal, gross corn cost maybe increased 5-7 cents higher per gallon than normal. With forward looking tightness (either real with short crop or farmer not selling), are we looking at lower corn grind less than the 5.050 billion bushels in the dec Wasde?
I just can't see plants running balls-to-the-walls usage similar to 2017 crop year and 2018 crop year with a potential Covid shutdown and having to pay closer to CBOT price to acquire corn. | |
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Ethanol update. down 7.5% year on year Sept 1st
