USDA released the September Grain Crushings report today; total corn use for fuel alcohol was down 2 percent from August, but up 1 percent from September 2020, starting the marketing year off in the right direction. Moreover, ethanol production for the week ending 22 October hit 1.106 million barrels per day, its highest level since the record weekly output of the last week in November 2017. That follows a strong two prior two weeks of production over 1 million barrels per day, the first sustained 1 million barrels per day production level since the last week of July.
Ethanol production in October, based on data from the first three weeks, could be an estimated 15 percent higher month over month.
If normal patterns of monthly p...
What You Need to Know Today: There is a global rotation out of tech stocks right now amid profit-taking and expectations of interest rate hikes later this year. The White House said Iran will use its upcoming unsanctioned oil revenue to buy U.S. agricultural products, a claim that Iran later s...
USDA will release its Quarterly Hogs and Pigs report on Thursday. Below are analysts’ estimates for the report. The biggest change since the 1 March report is the number of market hogs, which is expected to be up 1.1 percent from what was implied in March. The percent increase in hogs we...
Key Takeaways: Argentina is a major global agricultural exporter, but producer returns have historically been constrained by export taxes. Export taxes have been a long-standing policy tool since 1955, reintroduced in 2002 after Argentina’s financial crisis, and have since remained a key...
