The U.S. Department of Energy is beginning to award contracts for sales of crude oil from the Strategic Petroleum Reserve (SPR), which will continue for the next nine years in an effort to update its infrastructure and shrink the supply.The U.S. Department of Energy (DOE) is now awarding contracts for sales of crude oil from the Strategic Petroleum Reserve (SPR) in accordance with several legislative directives over the past two years. As of 20 January, the SPR held 695 million barrels or approximately 97 percent of its 713 million barrel capacity. The oil inventory consists of 266 million barrels of sweet crude and 429 million of sour crude. The legislation directing SPR sales includes the following:
The FY 2017 continuing resolution, p...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
