Ethanol stocks, according to the U.S. Energy Information Administration (EIA), are at their highest level since March, and they are also up 8.8 percent versus the same time last year and 3.6 percent above the previous week’s total.. Despite the stock build, weekly ethanol production is down to its lowest point since April after dropping more than 7 percent in the past four weeks. For the year, however, production is 2.2 percent ahead of last year’s pace.
Supply-burdened low ethanol prices have not helped spur demand. Meanwhile, blending lags last year’s pace by 1.4 percent. That is due in part to lower gasoline demand, which is down overall by 1.5 percent but returning to more normal patterns after the interruptions fro...
What You Need to Know Today: U.S. launches naval escort operations in the Strait of Hormuz as Iran attacks UAE oil infrastructure, escalating geopolitical risk and supporting energy and broader commodity markets Biofuel demand entering uncharted territory, with soyoil valuation increasingly di...
The Middle East is said to be undergoing a transformation as economic priorities transcend security concerns. This is evidenced by diversification away from oil and the UAE’s departure from OPEC. Meanwhile, the Palestine issue has been deprioritized, and Iran has emerged as more destabili...
All eyes are shifting to the Senate following the House passage of a farm bill last Thursday. Senate Agriculture Committee Chair John Boozman (R-Arkansas) is targeting the end of May or early June for a bill markup. According to Boozman, the House “going ahead and passing something was re...
