There were many impactful (and potentially impactful) policy developments that unfolded this week. Biofuel Required Volume Obligations (RVOs) - The EPA released the 2019 biofuel RVOs today. It did not reallocate past waivers for small refiners, adding back the nearly 2 billion gallons in overall fuel use, much to the dismay of the industry. The agency did, however, add a small increase in the cellulosic category in a revision to the proposed rule issued in July. That bumped up not only the cellulosic category but also the overall advanced and total renewable fuel categories in which it is nested.
The above implies an undifferentiated advanced category of 1.27 billion gallons, up 450 million gallons from 2018. Much of that increase will...
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...
