As uncertainty swirls around the future of ethanol, new data shows corn use to make the fuel has fallen in recent months.
USDA’s most recent Grain Crushings Report shows corn used for ethanol production in January was down 10 percent compared to December and down 3 percent on the year.
Corn used for alcohol was also down 10 percent in January and 2 percent off the year.
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Economists are also closely watching how policy decisions in Washington could influence markets moving forward. Analysts say deferred futures for corn, soybeans, and wheat suggest markets are operating near break-even levels, not at prices that would encourage expanded production.
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