Key Takeaways:
Brazil has been the second-largest producer of fuel ethanol globally, but almost all of it was derived from sugarcane until recently. Corn ethanol production has increased due to expanded second-crop corn production, sugarcane storage limitations, and biofuel policy. Brazil is expanding anhydrous ethanol blends as its vehicles are mostly designed as flex-fuel vehicles, which can operate effectively at higher anhydrous ethanol blends or with 100 percent hydrous ethanol. Brazil’s expanding biofuel production is a result of its RenovaBio policy, which introduced the trading of decarbonization credits (CBIOs). Brazil’s Fuels of the Future Law, passed in 2024, enhanced its commitment to biofuels, particularly SAF and...
What You Need to Know Today: Wheat prices surged after Ukrainian strikes on Russian vessels and infrastructure disrupted grain shipments, halting traffic through the Sea of Azov, Kerch Strait, and Black Sea. The July WASDE report offered a modestly supportive outlook for corn, wheat, and soybe...
The trade deficit in goods and services came in at $77.6 billion in May, slightly smaller than the consensus estimate of $78.4 billion. After a few months of relative stability, the trade deficit widened in May. The increase in the deficit for the month was due to both a rise in imports, which...
Every June combines begin their annual sweep across the winter wheat fields of Texas, Oklahoma, and Kansas. At the same time, USDA releases its Acreage and Crop Progress reports, providing the first comprehensive look at the size and condition of the crop. Most years the reports simply confirm...
