The Energy Information Administration (EIA) released its August Short-Term Energy Outlook (STEO); the report projects biodiesel production for 2021 to remain at the same level as 2020, which unlike ethanol, was up from 2019. For 2022, biodiesel production is forecast to increase 15 percent over pre-pandemic 2019 levels. Ethanol production this year will be 7 percent above 2020 levels, but not back to pre-pandemic 2019 levels even in 2022, forecast to be 2 percent less than in 2019. It is the same story for renewable fuel consumption; by the end of 2022, ethanol will just catch back up to 2018-2019 averages, but biodiesel will grow significantly.
The EIA forecasts remain subject to the uncertainty of the ongoing COVID recover...
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...
