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: Corn and soybean futures were lower to open the week, with funds still in control and in a selling mood. The upcoming WASDE report on Tuesday is also likely to feature larger corn and soybean stocks, which helped put grain futures on the defensive. Wheat futures we...
Key Takeaways: Currency exchange rates influence agricultural export competitiveness and producer profitability, even when underlying commodity prices remain unchanged. A weaker domestic currency allows agricultural exporters to receive more local currency for dollar-denominated sales, potenti...
Although inflation has remained elevated since the post-COVID surge, it steadily moderated until the past year. More to the point, today’s inflation looks very different from 2022, when the Consumer Price Index (CPI) peaked at 9 percent. During and after the pandemic, the M2 money supply...
