Weekly ethanol usage is on the lower side despite high gas prices

For the week ending Jul. 15, U.S. weekly ethanol blending and refining use was unchanged from last week, and use has been on low side compared to last season. Gasoline averaged around $4.77 per gallon in early July, up 53 percent YOY. Despite high [...]

Canola oil market update

U.S. pricing falls back below a dollar: Nominal RBD canola oil pricing in the Midwest as of mid-July was down about 15 percent from the month-ago level and down about 6 percent year over year. U.S. refined canola oil disappearance in May was lowest [...]

Food Consumer Price Index up 10% YOY in June, up 7% YTD

The June Consumer Price Index (CPI) data for June showed that pricing for all food was up 1.0 percent from May and up 10.4 percent from June 2021. For food at home, pricing is up 12.2 percent YOY. As a reminder, food prices represent [...]

Petroleum Reserve drained further as Middle East visit ends

At June’s end, the U.S. Strategic Petroleum Reserve (SPR) dropped to its lowest level since the mid-1980s, a 35-year low. The Biden administration is continuing to use SPR withdrawals to bolster supply and try to bring reduce fuel prices and the oft-mentioned pain at [...]

Bearish news pushes corn to lows not seen since January

Futures activity Sep-22 corn ended last week at its lowest levels since Jan. 3 (and at parity with Dec-22 futures) at $5.6425 per bushel. The contract fell 7.8 percent over the week. S&D and fundamental factors It appears Ukraine and Russia have worked out [...]

U.S. weekly corn exports at eight-month low

For the week ending Jul. 7, U.S. weekly corn exports were 916,123 MT (36.1 million bushels), an eight-month low and down 14 percent YOY. Cumulative 2021/22 exports reached 53.4 MMT (2.102 billion bushels), down 11 percent YOY. Weekly net export sales were 59,027 MT [...]

Will India further extend its sugar export window?

In response to delays caused by monsoon rains, India’s government announced a two-week extension of the 2021/22 export window in the first week of July. A reported 800,000 MT of sugar remained to be exported out of an export quota of 10 MMT announced [...]

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