Will the number of Bourbon barrels aging in Kentucky for January 1, 2026 be above 18.0 million barrels?

If the Kentucky Distillers’ Association reports that the number of Bourbon barrels aging in Kentucky as of January 1, 2026 was above 18.0 million barrels, then the market resolves to Yes. The Underlying is the statewide Bourbon barrel inventory derived from inventories submitted by Kentucky distilleries and warehousing companies to the Kentucky Department of Revenue. Only barrels containing Bourbon will count; barrels containing other aging spirits will not. The January 1, 2025 figures, for example, were 16.1M Bourbon barrels versus 17.1M total barrels of all aging spirits.