Recent Biofuels Analysis
U.S. Corn Ending Supplies Will Be Smaller
As said every year at this time when we take a very preliminary look at the corn outlook for the coming marketing year, it will be all about yield. The U.S. corn farmer has enjoyed four consecutive years of incredibly good yields, but we tend to lose sight of that and automatically plug in anot...
Indian Subcontinent Regional Analysis
Rabi Sowing Down As of 18 January 2019, the total rabi planted area was down 4.8 percent versus 2017/18. While wheat is among the crops affected, pulses and coarse cereals, most especially pearl millet, are down significantly (see table below). The overal oilseed area has been good, however, as...
Oilseed Highlights: Malaysian Biodiesel; Soymeal and DDGS; Argentine Soy Crushers; Pakistan and Cargill
Malaysia to Double Use of Palm-Based Biodiesel The glut and low prices of palm oil have caused the government of Malaysia to double the blending requirement for biodiesel with diesel from the current 10 percent to 20 percent by 2020, according to Minister of Primary Industries Teresa Kok. Oil W...
Market Commentary
The missing USDA reports due to the government shutdown receive all of the attention, but the Commodity Futures Trading Commission’s (CFTC’s) weekly Commitment of Traders (COT) report is among the missing as well. The last one was issued on 21 December with futures position data of...
EPA Administrator Confirmation Hearing and Biofuel Outlook
The Senate Environment and Public Works Committee (EPW) will hold a confirmation hearing tomorrow for Andrew Wheeler, nominated last week by President Trump to be the EPA administrator. He has been the acting in that position since July and is the former deputy administrator. Wheeler was...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Bad weather in Egypt has closed four ports on the Red Sea and two on the Mediterranean. Very strong winds are reportedly causing docking and visibility difficulties due to sand and dust storms. Egypt normally experiences strong khamaseen winds...
Market Commentary
Grain and soy futures traded quietly overnight amid low volume, and prices were not much changed by the morning recess. The overnight action (or rather the lack thereof) did not prepare traders for the big and broad sell-off that took place during the day session. Bulls like to be fed every day...
Market Commentary
Grain and soy futures prices were slightly firmer overnight across the board. Chicago and KC wheat were up 4-5 cents at one point with corn and soybeans 2-3 cents higher. This firmness carried over to the day session with all prices entirely green until late selling by index funds dropped wheat...
Flying Blind
As the partial U.S. government shutdown has moved into its third week with no end in sight, the nation’s press is increasingly focused on the ripple affect it is having on various sectors of the U.S. economy. An example is a recent article in the Washington Post that discussed how the lac...
Summary of Futures
Mar 19 Corn closed at $3.8/bushel, down $0.0225 from yesterday's close. Mar 19 Wheat closed at $5.1775/bushel, up $0.01 from yesterday's close. Mar 19 Soybeans closed at $9.185/bushel, down $0.0575 from yesterday's close. Mar 19 Soymeal closed at $321.6/short ton, down $0.6 fr...
Market Commentary
Today’s CME closing grain market board was very unusual in the array of tiny price changes compared with that of yesterday. MGEX wheat had the biggest gains, finishing up 2.5-3 cents. Every other change was 1 cent or less except for a 1.25 cent gain for corn and Chicago wheat. While this...
Market Commentary
The government remains partially closed and apparently will continue to be into 2019. President Trump is dug in over his demand for funding of the proposed Mexican border wall, but he does not have the votes to obtain congressional approval. This leaves the status of the regular USDA reports in...
U.S. Corn Ending Supplies Will Be Smaller
As said every year at this time when we take a very preliminary look at the corn outlook for the coming marketing year, it will be all about yield. The U.S. corn farmer has enjoyed four consecutive years of incredibly good yields, but we tend to lose sight of that and automatically plug in anot...
Indian Subcontinent Regional Analysis
Rabi Sowing Down As of 18 January 2019, the total rabi planted area was down 4.8 percent versus 2017/18. While wheat is among the crops affected, pulses and coarse cereals, most especially pearl millet, are down significantly (see table below). The overal oilseed area has been good, however, as...
Oilseed Highlights: Malaysian Biodiesel; Soymeal and DDGS; Argentine Soy Crushers; Pakistan and Cargill
Malaysia to Double Use of Palm-Based Biodiesel The glut and low prices of palm oil have caused the government of Malaysia to double the blending requirement for biodiesel with diesel from the current 10 percent to 20 percent by 2020, according to Minister of Primary Industries Teresa Kok. Oil W...
Market Commentary
The missing USDA reports due to the government shutdown receive all of the attention, but the Commodity Futures Trading Commission’s (CFTC’s) weekly Commitment of Traders (COT) report is among the missing as well. The last one was issued on 21 December with futures position data of...
EPA Administrator Confirmation Hearing and Biofuel Outlook
The Senate Environment and Public Works Committee (EPW) will hold a confirmation hearing tomorrow for Andrew Wheeler, nominated last week by President Trump to be the EPA administrator. He has been the acting in that position since July and is the former deputy administrator. Wheeler was...
Middle East, Mediterranean and Africa Regional Analysis
Regional Updates MIDDLE EAST/MEDITERRANEAN COMMENTS Bad weather in Egypt has closed four ports on the Red Sea and two on the Mediterranean. Very strong winds are reportedly causing docking and visibility difficulties due to sand and dust storms. Egypt normally experiences strong khamaseen winds...
Market Commentary
Grain and soy futures traded quietly overnight amid low volume, and prices were not much changed by the morning recess. The overnight action (or rather the lack thereof) did not prepare traders for the big and broad sell-off that took place during the day session. Bulls like to be fed every day...
Market Commentary
Grain and soy futures prices were slightly firmer overnight across the board. Chicago and KC wheat were up 4-5 cents at one point with corn and soybeans 2-3 cents higher. This firmness carried over to the day session with all prices entirely green until late selling by index funds dropped wheat...
Flying Blind
As the partial U.S. government shutdown has moved into its third week with no end in sight, the nation’s press is increasingly focused on the ripple affect it is having on various sectors of the U.S. economy. An example is a recent article in the Washington Post that discussed how the lac...
Summary of Futures
Mar 19 Corn closed at $3.8/bushel, down $0.0225 from yesterday's close. Mar 19 Wheat closed at $5.1775/bushel, up $0.01 from yesterday's close. Mar 19 Soybeans closed at $9.185/bushel, down $0.0575 from yesterday's close. Mar 19 Soymeal closed at $321.6/short ton, down $0.6 fr...
Market Commentary
Today’s CME closing grain market board was very unusual in the array of tiny price changes compared with that of yesterday. MGEX wheat had the biggest gains, finishing up 2.5-3 cents. Every other change was 1 cent or less except for a 1.25 cent gain for corn and Chicago wheat. While this...
Market Commentary
The government remains partially closed and apparently will continue to be into 2019. President Trump is dug in over his demand for funding of the proposed Mexican border wall, but he does not have the votes to obtain congressional approval. This leaves the status of the regular USDA reports in...