The U.S. EPA today finalized the 2018 Required Volume Obligations (RVOs) for biofuels under the Renewable Fuel Standard (RFS). This is the fifth consecutive year that they have been higher than the proposed levels, although this year’s increase was quite slight at 50 million gallons.
Ethanol The implied conventional mandate for corn ethanol remains at the statutory maximum of 15 billion gallons. The U.S. Energy Information Administration’s (EIA’s) November Short-Term Energy Outlook (STEO) pegs ethanol blending next year at 14.7 billion gallons. That would be a blend rate of 10.25 percent, a record high and the fifth consecutive year of growth. WPI is forecasting 2018 ethanol production will exceed 15.8 billion gallons,...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
