There were many impactful (and potentially impactful) policy developments that unfolded this week. Biofuel Required Volume Obligations (RVOs) - The EPA released the 2019 biofuel RVOs today. It did not reallocate past waivers for small refiners, adding back the nearly 2 billion gallons in overall fuel use, much to the dismay of the industry. The agency did, however, add a small increase in the cellulosic category in a revision to the proposed rule issued in July. That bumped up not only the cellulosic category but also the overall advanced and total renewable fuel categories in which it is nested.
The above implies an undifferentiated advanced category of 1.27 billion gallons, up 450 million gallons from 2018. Much of that increase will...
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...
