The biggest news of the day is the fact that May crude oil futures traded to negative prices, posting a daily low of negative $40.34 (-$40.32) before settling slightly higher. U.S. crude oil storage capacity is basically nonexistent right now, helping create the price weakness and today’s collapse. May futures posted a $56/barrel drop today while June futures fell a mere $4.60 and closed at $20.43/barrel.
Some news outlets are reporting that a U.S. exchange traded fund (ETF), USO, is also partly responsible for the crash. According to Forbes, the USO fund owned 25 percent of the outstanding volume of May WTI crude oil futures as of last week. Because funds, especially ETFs, do not typically want to take delivery of futures co...
What You Need to Know Today: Record biofuel demand continues to support soyoil values, as EIA data show that May soyoil usage as a biofuel feedstock reached a record 1.434 billion pounds. The latest data reinforces the strength of renewable fuel demand and helps explain ongoing investment in a...
A bipartisan group of 26 lawmakers, led by Representative David Valadao (R-CA), sent a letter to House Speaker Mike Johnson (R-Louisiana) and House Agriculture Committee Chair GT Thompson (R-Pennsylvania) requesting that $5 billion of the temporary economic assistance for farmers go toward spec...
Key Takeaways: Soyoil consumption as a biofuel feedstock climbed to a record 1.434 billion pounds in May, setting a new all-time monthly high. Improved 45Z policy clarity in February 2026 has supported stronger soyoil demand from the biofuel sector by providing producers with greater certainty...
