The final numbers for 2013 support EPA's case to reduce the RVOs for 2014 due to the blend wall.EPA released the Required Volume Obligation (RVO) data under the Renewable Fuel Standard program (RFS) last week, just as the 2014 RVO proposal was being closed to comments. The data is below and includes the total Renewable Identification Numbers (RINs):Comparing these numbers to their RVOs:
Ethanol totaled 96.5 percent of its target volume. Biodiesel totaled 104 percent of its target volume. Advanced biofuel (absent biodiesel) totaled 39 percent of its target volume. Cellulosic totaled only 9 percent of its volume target (and only 0.024 percent of its statutory level of 1.75 billion gallons as spelled out in the original RFS).
The fina...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Key Market Insights Macro markets delivered a full whipsaw today. Early in the session, crude oil had rallied back above $100/barrel as traders priced renewed concern over the U.S.-Iran standoff and potential supply risk through the Strait of Hormuz. That strength helped pull grains off their o...
