King corn is losing a battle with Queen soybeans, and this has activated the politicians for another round of support. Renewable diesel is projected to increase five-fold from 1 billion to 5 billion gallons by 2026. Almost $2.6 billion is being invested in increased soybean crush capacity to meet this demand. It will require around 1.5 billion additional bushels of soybeans and creates three problems for corn:
An edge in the battle for acres. Demand drives up profitability and farmers will grow beans instead of corn. Increased competition around coproducts. There will be a surplus of 35 million short tons of soybean meal competing with DDGS. Winning RINs. Renewable biodiesel has a better GHG reduction value and its RINs will outc...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
