Second-highest corn crop on record could push down feedstock prices even further

In Washington, Platts reports that USDA data shows corn stocks will grow in the next season well above market expectations to 1.774 billion bushels for 2018/19. As such, excess supplies will continue to weigh on prices, helping to improve crushing margins for ethanol producers who are suffering from multi-year low prices. Higher yields account for the increased estimates, which would see the crop come in at the second-highest level ever if the new estimate proves accurate.