date:Sep 04, 2013
ntly in the last quarter. As of August 23rd, corn usage per week for production was nearly 100 million bushels less than the needed usage per week to hit the USDA forecast of 4.65 billion bushels.
The USDA is estimating ethanol demand for 2013/14 at 4.9 billion bushels. With only about 2 weeks left in the marketing year, it's likely the USDA revises old crop demand lower which could increase the carry-in for the new crop year.
This will leave the market with a tall order in attaining the new c