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: 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...