February WASDE maintains 2025-’26 outlook for corn use in ethanol
The U.S. Department of Agriculture kept its 2025–26 corn use for ethanol at 5.6 billion bushels and season-average price at $4.10/bushel. Strong exports lifted U.S. shipments to 3.3 billion bushels, cutting ending stocks to 2.1 billion, while global corn stocks slipped to 289 million tons.
The USDA maintained its forecast for 2025-’26 corn use in ethanol production in its latest World Agricultural Supply and Demand Estimates report, released Feb. 10. The forecast for season-average corn prices was also unchanged.
The current 2025-’26 U.S. corn outlook is for greater exports and lower ending stocks. Exports are raised 100 million bushels to 3.3 billion reflecting sales and shipments to date. Export sales and inspection data continued to show robust foreign demand during January and imply total shipments during the September-January period will most likely exceed 1.3 billion bushels. With no supply changes and use rising, corn ending stocks are down 100 million bushels to 2.1 billion. The season-average corn price received by producers is unchanged at $4.10 per bushel.
The USDA maintained its forecast that 5.6 billion bushels of corn will go to fuel ethanol production for 2025-’26, up from an estimated 5.436 billion bushels for 2024-’26. Corn use for fuel ethanol was at 5.489 for 2023-’24.
The 2025-‘26 outlook for foreign corn production is down fractionally as a decline for Mexico is mostly offset by an increase for the EU. Corn exports for 2025-‘26 are raised for the U.S. but lowered for Ukraine. Corn imports are higher for Iran, Mexico, Turkey, Lebanon, and Vietnam but lowered for the EU.
Foreign corn ending stocks are higher reflecting increases for Ukraine and Iran partly offset by a decline for Mexico. Global corn stocks, at 289.0 million tons, are down 1.9 million.
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Source : Ethanol Producer Magazine
