September 14, 2023
BY U.S. Department of Energy
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The USDA’s NASS released its latest quarterly Grain Stocks report on Sept. 29, reporting that old crop corn stocks on hand as of Sept. 1 were at 1.36 billion bushels, down 1 percent when compared to the same time last year.
Corn use for fuel ethanol production in July was up when compared to both the previous month and the prior year, according to the September edition of the USDA National Agricultural Service’s Grain Crushings and Co-Products Production Report.
UNICA, the Brazilian sugarcane industry association, has announced sugarcane processing and ethanol production were both up during the second half of August. Ethanol sales for the full month were up more than 9 percent from last year.
The USDA maintained its forecast for 2023-’24 corn use in ethanol but reduce its estimate for 2022-’23 corn use in ethanol in its latest World Agricultural Supply and Demand Estimates report, released Sept. 12.
The USDA’s National Agricultural Statistics Service predicts corn production for 2023 will reach 15.1 billion bushels, up 10 percent from last year, according to the agency’s latest Crop Production report, released Sept. 12.