January US corn for ethanol use suffers due to weather. Still on pace for USDA's goal.

On Friday USDA's monthly report covering ethanol activity showed 434 million bushels of corn usage during January. This was -1.7% from last year due to weather issues. This helps bring the September - January usage to 2.149 billion bushels. That is still a strong pace due to December activity at +5.4% from last year. To meet USDA's current 5.375 billion bushel goal the remaining seven months can fall to +2.7% vs. last year. For Friday's monthly WASDE report Allendale assumed no change for USDA's view. We will point out if we were to change numbers it would be a slight increase.

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