Recent Biofuels Analysis
More Small Refinery Exemptions Granted
The EPA announced yesterday that it had granted five additional small refinery exemptions (SREs) for 2017, reducing the number of pending petitions in the queue for that year as of 1 March from seven to two. This brings the total number of exemptions to 9.4 percent of the 19.28 billion gallons...
Oilseed Highlights: U.S. Soy Export Sales; EU Biodiesel, Palm Oil Futures; EU Rapeseed
U.S. Soy Export Sales Highlights Today’s USDA weekly export sales report indicated U.S. exporters were quite successful selling soybeans to China and elsewhere in the week ending 7 March. Meanwhile, soymeal and soyoil export sales were relatively modest. Net soybean export sales for shipm...
Year-Round E15 and RIN Reform Proposed; Annual Ethanol Use Down
Year-Round E15 and RIN Reform Proposed The EPA released its proposed waiver for year-round E15 use today. As previously reported (click here), it will now be on a tight approval deadline before the summer driving season starts. Given the risk of regulatory uncertainty and needed infrastructure...
Market Commentary
Yesterday’s firmer market did not have the legs to carry over into the night session. Grain and soybean values turned lower in overnight trade with corn futures down a fraction, soybeans off 1-2 cents and Chicago wheat down about 4 cents. Trading volume was again quite low. The price weak...
E15; Biodiesel Duties; The Debt Limit
E15 and SREs Yesterday the EPA submitted its proposal for year-round E15 use to the Office of Management and Budget (OMB) for sign-off. As noted here on Friday, a quick timeline for approval could be 75 days, which is slightly less than the number of days before the 1 June start of the su...
Market Commentary
Corn and soybean futures were higher in the Sunday evening session with wheat steady, and that is the way the market opened this morning as well. There was renewed optimism that the U.S. and China are very close to reaching an agreement on trade. President Trump has reportedly asked the Chinese...
E15; Biodiesel Credit; Tariff Checks and Balances
There’s been a spate of activity on Capitol Hill of late on some high-profile ag policy issues. Below is an end-of-the week recap. E15 Waiver In testimony before the House Ag Committee, USDA Secretary Sonny Perdue suggested that EPA was unlikely to finish the waiver for year-round E15 use...
Oilseed Highlights: U.S. Soy Export Sales, Sinograin Reserve Sales; Canada’s Soy Sales; French Biodiesel Strike
U.S. Soy Export Sales Highlights Today’s release of the USDA weekly export sales report for the week ending 21 February indicated unexpectedly large sales of U.S. soybeans, particularly to China. Sales of soymeal and soyoil were at the low end of analysts’ estimates, but soymeal exp...
Market Commentary
Corn and soybean futures prices were fractionally firmer overnight, while wheat prices sought to recover at least a sliver of their February losses. Chicago wheat was up about 5 cents heading into the early morning trading recess. Later in the morning, traders were tuned into the testimony on C...
EIA Aims to Improve Biofuel Data to Reflect the Current Market, Especially Diesel
The U.S. Energy Information Administration (EIA) has proposed revamping its data collection surveys and reporting process on fuel supplies, production, distribution and inputs. It outlined those plans in a late December notice and closed the request-for-comments period yesterday. Given the evol...
Market Commentary
In a day full of new fundamental data, it was policy expectations that ruled the CBOT. Corn and soybean futures were mixed and largely lackluster in today’s trading with wheat posting solid gains. The markets remain supported/optimistic based on (apparently) improving trade relations betw...
Market Commentary
USDA’s annual Agricultural Outlook Forum opened its two-day run this morning. “Growing Locally, Selling Globally” is the 2019 theme. USDA Chief Economist Robert Johansson presented the 2019 projections for grains, oilseeds, planted area and farm income. USDA foresees net farm...
More Small Refinery Exemptions Granted
The EPA announced yesterday that it had granted five additional small refinery exemptions (SREs) for 2017, reducing the number of pending petitions in the queue for that year as of 1 March from seven to two. This brings the total number of exemptions to 9.4 percent of the 19.28 billion gallons...
Oilseed Highlights: U.S. Soy Export Sales; EU Biodiesel, Palm Oil Futures; EU Rapeseed
U.S. Soy Export Sales Highlights Today’s USDA weekly export sales report indicated U.S. exporters were quite successful selling soybeans to China and elsewhere in the week ending 7 March. Meanwhile, soymeal and soyoil export sales were relatively modest. Net soybean export sales for shipm...
Year-Round E15 and RIN Reform Proposed; Annual Ethanol Use Down
Year-Round E15 and RIN Reform Proposed The EPA released its proposed waiver for year-round E15 use today. As previously reported (click here), it will now be on a tight approval deadline before the summer driving season starts. Given the risk of regulatory uncertainty and needed infrastructure...
Market Commentary
Yesterday’s firmer market did not have the legs to carry over into the night session. Grain and soybean values turned lower in overnight trade with corn futures down a fraction, soybeans off 1-2 cents and Chicago wheat down about 4 cents. Trading volume was again quite low. The price weak...
E15; Biodiesel Duties; The Debt Limit
E15 and SREs Yesterday the EPA submitted its proposal for year-round E15 use to the Office of Management and Budget (OMB) for sign-off. As noted here on Friday, a quick timeline for approval could be 75 days, which is slightly less than the number of days before the 1 June start of the su...
Market Commentary
Corn and soybean futures were higher in the Sunday evening session with wheat steady, and that is the way the market opened this morning as well. There was renewed optimism that the U.S. and China are very close to reaching an agreement on trade. President Trump has reportedly asked the Chinese...
E15; Biodiesel Credit; Tariff Checks and Balances
There’s been a spate of activity on Capitol Hill of late on some high-profile ag policy issues. Below is an end-of-the week recap. E15 Waiver In testimony before the House Ag Committee, USDA Secretary Sonny Perdue suggested that EPA was unlikely to finish the waiver for year-round E15 use...
Oilseed Highlights: U.S. Soy Export Sales, Sinograin Reserve Sales; Canada’s Soy Sales; French Biodiesel Strike
U.S. Soy Export Sales Highlights Today’s release of the USDA weekly export sales report for the week ending 21 February indicated unexpectedly large sales of U.S. soybeans, particularly to China. Sales of soymeal and soyoil were at the low end of analysts’ estimates, but soymeal exp...
Market Commentary
Corn and soybean futures prices were fractionally firmer overnight, while wheat prices sought to recover at least a sliver of their February losses. Chicago wheat was up about 5 cents heading into the early morning trading recess. Later in the morning, traders were tuned into the testimony on C...
EIA Aims to Improve Biofuel Data to Reflect the Current Market, Especially Diesel
The U.S. Energy Information Administration (EIA) has proposed revamping its data collection surveys and reporting process on fuel supplies, production, distribution and inputs. It outlined those plans in a late December notice and closed the request-for-comments period yesterday. Given the evol...
Market Commentary
In a day full of new fundamental data, it was policy expectations that ruled the CBOT. Corn and soybean futures were mixed and largely lackluster in today’s trading with wheat posting solid gains. The markets remain supported/optimistic based on (apparently) improving trade relations betw...
Market Commentary
USDA’s annual Agricultural Outlook Forum opened its two-day run this morning. “Growing Locally, Selling Globally” is the 2019 theme. USDA Chief Economist Robert Johansson presented the 2019 projections for grains, oilseeds, planted area and farm income. USDA foresees net farm...