date:Mar 19, 2019
February estimate of 46.0 mmt.
TRADE RESPONSE
Britt OConnell, Commodity Risk Management Group cash adviser, says that the USDAs corn ending stocks were raised 100 million bushels to 1.835 billion. The report shows reductions in corn used for ethanol production as well as reduced exports. No large surprises here as the market seemed to expect both of these, OConnell says.
Ethanol margins have been slim to negative for the 2019 year thus far, OConnell says.
The U.S. was able to pick up Argenti