Pro Farmer
Renewable Fuels Association’s Troy Bredenkamp says the push from Alabama and Louisiana to waive 2027 Renewable Fuels Standard obligations would raise gas prices, not lower them, and hurt rural America.
Corn and soybeans saw consolidation overnight following yesterday’s big push higher while wheat saw relative strength.
Markets see consolidation as U.S. dollar continues to strengthen; key Russian port set ablaze by drone attack
Corn yields have more room to fall, while USDA may be underestimating soybean export demand beyond China
CoBank projects the U.S. inland barge fleet shrinking about 17% by 2035 while USDA expects grain and oilseed exports to grow 9%. Operators who ship by river should plan for wider freight swings and a softer basis.
Ending stocks come in tighter than expected in both corn and soybeans, reflecting robust demand in the latter crop amid a higher yield.
USDA trimmed corn yield more than analysts expected, on average, while soybean ending stocks were lower than anticipated amid increased exports.
The grain and oilseed complex traded in a tight range overnight ahead of today’s USDA reports.
USDA expected to nudge soybean yield higher, trim corn; CPI data could seal December rate hike; oil, gas and diesel prices sink as natural gas surges.