USDA increases 2023 corn production forecast
SOURCE: USDA
November 10, 2023
BY Erin Voegele
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With an estimated 6 billion bushels being used for ethanol production next year, Continuum Ag has set their sights on helping the industry SCORE (Carbon Intensity Score) over a billion bushels in 2024.
The USDA raised its forecast for 2023-’24 corn use in ethanol production by 25 million bushels in its latest World Agricultural Supply and Demand Estimates report, released Nov. 9. The agency also reduced its forecasted corn price.
As the era of high-tech corn receiving coalesces with the rise of 2-million-plus-bushel grain bins, ethanol plants are becoming known for feedstock receiving and storage systems that are fast, efficient and massive.
UNICA, the Brazilian sugarcane industry association, has announced that both sugarcane processing and ethanol production were up during the first half of October. Ethanol sales were also up when compared to the same period of last year.
U.S. biofuels operable production capacity was up slightly in August, with a small gain for ethanol, according to data released by the U.S. EIA on Oct. 31. Feedstock consumption was down slightly from the previous month.
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