The U.S. Department of Energy is beginning to award contracts for sales of crude oil from the Strategic Petroleum Reserve (SPR), which will continue for the next nine years in an effort to update its infrastructure and shrink the supply.The U.S. Department of Energy (DOE) is now awarding contracts for sales of crude oil from the Strategic Petroleum Reserve (SPR) in accordance with several legislative directives over the past two years. As of 20 January, the SPR held 695 million barrels or approximately 97 percent of its 713 million barrel capacity. The oil inventory consists of 266 million barrels of sweet crude and 429 million of sour crude. The legislation directing SPR sales includes the following:
The FY 2017 continuing resolution, p...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
