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: 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...
