Corn basis: The average of Central Illinois basis bids for the August net corn cost reconciliation period was around +63, compared to +105 on average in August 2021. Bids as of mid-August had retreated from the very high values seen in early July, but bids [...]
Futures activity Bolstered by concerns about the upcoming crop, Sep-22 corn futures on Friday, Aug. 25, ended the week up by more than $0.35 at $6.6875 per bushel. Dec-22 futures closed similarly higher at $6.6475 per bushel. S&D and fundamental factors The Pro Farmer [...]
We hope you have been finding our In the Know blog both useful and informative. But did you know that our IQ Ingredient Intelligence platform provides multiple daily commentaries on a variety of commodity and ingredient markets? In addition, the platform offer access to [...]
Ethanol production consumes more than a third of U.S. corn production, while biodiesel and renewable diesel consume 40 percent of domestic soybean oil production—a share that’s only expected to increase as demand for renewable diesel expands. Having a handle on the biofuel markets deepens [...]
Data reported by BLS shows that food inflation was 1.1 percent in July, with the Consumer Price Index (CPI) for food now up 10.9 percent YOY. The major contributor has been the price of food at home, up 13.1 percent YOY; food away from [...]
Last week, ethanol use by blenders and refiners notched its first YOY gain since late May and was the highest daily average since early August 2021. On the other hand, ethanol production fell to a 15-week low as stocks remain weighty at over 23 [...]
Intense heat across Europe is boosting demand for electricity, and drought-stricken areas are dealing with low water levels in rivers hindering barge deliveries of coal to power plants. Higher air-conditioning use is preventing a buildup of natural gas stocks ahead of winter, and storage [...]
Futures activity Sep-22 soybean futures were volatile last week but closed at $14.8875 per bushel. Dec-22 closed at $14.04 per bushel. S&D and fundamental factors NOPA soybean crush was 170.22 million bushels, up 9.7 percent YOY and 3.4 percent from the month prior. Oil [...]
