The Energy Information Administration (EIA) released its August Short-Term Energy Outlook (STEO); the report projects biodiesel production for 2021 to remain at the same level as 2020, which unlike ethanol, was up from 2019. For 2022, biodiesel production is forecast to increase 15 percent over pre-pandemic 2019 levels. Ethanol production this year will be 7 percent above 2020 levels, but not back to pre-pandemic 2019 levels even in 2022, forecast to be 2 percent less than in 2019. It is the same story for renewable fuel consumption; by the end of 2022, ethanol will just catch back up to 2018-2019 averages, but biodiesel will grow significantly.
The EIA forecasts remain subject to the uncertainty of the ongoing COVID recover...
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...
