EIA, USDA out of sync for 2024 ethanol production
In the October Short-term Energy Outlook, EIA projected 2024 ethanol production at 980,000 barrels per day, just slightly higher than 2021’s level. In 2020/21, [...]
Short-covering % South American concerns lift corn
Dec-23 continued to make fresh two-month highs the week of Oct. 16, settling at $5.05 per bushel Oct. 19. The contract touched a high [...]
NOPA September crush increased, above average expectations
September 2023 soybean crush was below analysts’ expectations: Soybean crush increased for the month of September with about 165.0 million bushels crushed in September 2023. [...]
Early October three-session rallies for world sugar futures
Benchmark Mar-24 #11 world raw sugar settled at 26.74 cents Oct. 6 after a three-session rally, straddling the 20-day moving average. The contract returned [...]
FAO reports world food prices down marginally in September
FAO reported global food prices down marginally in September (adjusted for inflation). Year on year, the Food Price Index (FPI) was reported down 12 [...]
Nonfat dry milk (NFDM) stocks down per USDA
The Oct. 4 USDA Dry Products report showed that stocks of human-grade nonfat dry milk (NFDM) declined 7 percent, down 20 million lbs from [...]
Soy complex prices reverse course
Soybean oil prices trickled lower in the first half of the week of Oct. 9, with the H1 2024 strip touching around 51.75 cents [...]
September corn use for ethanol up 11% YOY
Weekly ethanol production has shown year-on-year growth since mid-June when output began to track 2019 volumes. At the start of October, average daily production [...]