World Perspectives
biofuel

Gasoline and Ethanol Use Forecast Down for 2021

The Energy Information Administration (EIA) released its October Short Term Energy Outlook (STEO) cutting ethanol, biodiesel, and gasoline use projections for 2021. EIA’s forecast of actual ethanol blending for 2021 is about 13.92 billion gallons, which is 11 percent of the forecast 126 billion gallons of gasoline use.   Ethanol production for the rest of 2020 was forecast to remain the same as projected in September at 900,000 bbl/day and biodiesel will increase 1,000 barrels to 113,000 bbls/day for the rest of the year. Looking ahead to Friday’s WASDE, the EIA projections, on top of September 2020 weekly production, would put MY 2020/21 corn use at about 5,325 million bushels, or 225 million bushels more than th...

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From WPI Consulting

Communicating importance of value-added products

Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.

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