Ethanol exports in March were 133 million gallons and more than a third of that went to China. The 48.3 million gallons exported to China is the second highest monthly total on record, just 8,278 gallons below April 2016.
Recall that in 2016, China was the fastest growing market for U.S. fuel ethanol exports; at the time the tariff on imports was set at 5 percent. By December, however, China imported no ethanol as plans were in the works to push the tariff rate back up to 30 percent, which it did in January 2017. Subsequently, with the trade war retaliatory tariffs, the total duty increased to 45 percent – at least on paper, importers can apply for tariff relief. According to a statement from the Chinese Ministry...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
