USDA maintains forecast for 2022-’23 corn use in ethanol
Summary
The USDA maintained its 2022-’23 forecast for corn use in ethanol production in its latest World Agricultural Supply and Demand Estimates report, released June 10. The agency said it will release its Acreage report on June 30, which will provide survey-based indications of planted and harvested area. The USDA currently predicts 5.375 million bushels of corn will go to ethanol production in 2022-’23, a forecast maintained from the May WASDE. Corn production is raised for Ukraine, reflecting higher area based on data reported by the government. Major global trade changes for 2022-‘23 include larger corn imports for the EU, but reductions for Morocco, Jordan, and Peru.
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