US: Grain Crushings


December 1, 2021 02:00 CST

Definition
This monthly report is part of the Current Agricultural Industrial Reports (CAIR) program, with data for the previous calendar month collected from all known mills that produce ethanol. The report covers dry and wet mill consumption of agricultural commodities and production of products and co-products.

Description
This report offers processing data for corn. It also offers supply data for ethanol, corn oil and distillers dried grains.

Ethanol and its byproducts (including DDGs) represented 44% of total US corn consumption in 2019/20. This report tracks the amount of corn used for ethanol production as well as ethanol supply. Analyst can compare the monthly data with the USDA's projections for the marketing year to judge whether the actual crushing pace is running ahead or behind USDA projections.

DDGs are an important feed ingredient and can be used as a substitute for soybean meal, so strong DDG output could be bearish for meal prices.