The ethanol saga continues. After White House meetings yesterday, some details are being leaked on a potential “fix” to the small refinery exemption (SRE) impact on biofuel volumes. Initial reports from the meetings indicated that SREs were not going away, then subsequent reports today were that the SREs – for all intents and purposes – could be wiped out by having EPA reallocate those waived gallons. If so, weekly ethanol blending could break out of its range-bound three year slump.
If the 2018 SRE waived volumes were reallocated, total ethanol demand in 2020 could be about 15.1 billion gallons, almost 4 percent higher than this year (not factoring E15).
The details of the package are being called “tenta...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
