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Ethanol, DDGS exports up on month

U.S. ethanol exports improved from July to August.

The Renewable Fuels Association says August ethanol exports were 141.2 million gallons, up 4% on the month, with strong month-to-month increases for several key customers canceling out decreases for some other major buyers.

Canada took the top slot for the 41^st month in a row, followed by the United Kingdom, European Union, India, and Colombia.

The U.S. did import 1.9 million gallons of undenatured ethanol from Canada and Brazil, the first recorded imports since March.

Exports of distillers dried grains with solubles hit a three-year high at 1.12 million tons, 2% more than July, with movement to South Korea hitting an eight-month high, while DDGS imports by Mexico notched an eight-month low.

For 2024 to date, ethanol exports are on a record pace and trending 38% ahead of 2023, with DDGS exports are 15% faster than a year ago.

Export demand is driven by several factors, including the relative value of the dollar, seasonal changes in supply, and geopolitical relationships.