In two weeks, the Energy Information Administration (EIA) will resume price reporting on propane (assuming there’s no government shutdown). The price reporting stops at the end of March, but as of 27 March prices were $0.96 per gallon, the lowest March average since 2020. Currently the commercial markets are down; it is one of the few energy commodities that is down on the year other than natural gas, which has declined from record peaks. According to the EIA’s Sepetmber short term energy outlook, inventories are expected to be at the top of the five-year average range, and even slightly exceed it in early 2024. Prices for the end of 2023 and into 2024 are forecast below the 2022 averages.
This outlook is positiv...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
