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June corn grind, soybean crush up on year

Corn for ethanol use and the soybean crush were mixed during June.

The USDA says 442.346 million bushels of corn were used for fuel alcohol production, 3% less than in May, but a little bit more than what was used in July 2023.

The month-to-month dip was partially due to disruptions in movement related to flooding in parts of the Midwest, while that year-to-year rise can be linked to bullish operating margins and demand expectations.

The production of distillers dried grains with solubles was 1,793,655 tons, a drop of 10% on the month and a rise of just under 1% on the year.

184 million bushels of soybeans were crushed for soybean meal and oil production in June.

That was down 8 million from May but up 9 million from June 2023, with both of those changes tied to crush margins and demand expectations for soybean products.

Soybean meal and cake stocks were larger than both the previous month and last year, while crude soybean oil stocks were tighter.

The USDA’s next updates of corn for ethanol use and soybean crush demand are out August 12^th.