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Wednesday, February 15, 2023 10:39:39 AM
The Corn & Ethanol Report
By: Daniel Flynn | February 15, 2023
We kickoff the day with MBA 30-Year Mortgage Rate, MBA Mortgage Index, MBA Mortgage Refinance Index, MBA Purchase Index and MBA Mortgage Applications at 6:00 A.M., Business Inventories, Retail Sales MoM & YoY, NY Empire State Manufacturing Index, Retail Sales Ex Autos MoM, Retail Sales Ex Gas/Autos MoM at 7:30 A.M. , Industrial Production MoM & YoY, Manufacturing Production MoM & YoY and Capacity Utilization at 8:15 A.M., NAHB Housing Market Index and Retail Inventories Ex Autos MoM at 9:00 A.M., EIA Energy Stocks at 9:30 A.M. 17-Week Bill Auction at 10:30 A.M., NOPA Crush at 11:00 A.M., 20-Year Bond Auction at 12:00 P.M., Dairy Products Sales at 2:00 P.M.Net long-term TIC Flows, Overall Net Capital Flows and Foreign Bond Investment at 3:00 P.M.
On the Corn Front farmers, ranchers and meat processors listened to a speech by US Secretary of Agriculture Tom Vilsack spoken by video conference held by President Biden held in Washington on Jan 3, 2022. And the results of that meeting over a year ago are in. The US said on Tuesday it was “disappointed” in the Mexican government’s announcement the previous day which walked back a deadline to ban genetically modified (GM) corn for animal feed and industrial use in the country, but retained its plans to ban the corn for human consumption.” The US believes in and adheres to a science-based, rules=based trading system and remains committed to preventing disruptions to bilateral agriculture trade and economic harm to US and Mexican producers,” Vilsack said in a statement And no victory lap after the Consumer Price Index (CPI). Corn futures closed mixed with news of widely scattered lite showers forecasted in northern portions of Argentina. Good rains across RGDS and Santa Catarina in Southern Brazil. In the overnight electronic session the March corn is currently trading at 678 ½ which is 3 ¾ cents lower. The trading range has been 682 ½ to 678.
On the Ethanol Front more infrastructure failure with Iowa ethanol plant closings without carbon capture pipelines. The lack of stewardship in every project this administration has put their paws on is more than evident. The Iowa Renewable Fuels Association released a study concluding up to 75% of Iowa’s ethanol production is at stake if the state is locked out of carbon capture and sequestration pipeline products. More government waste before our eyes. “Legislation that would effectively shut down Iowa ethanol production,” says Monte Shaw, executive director of the Iowa Renewable Fuels Association (IRFA). Ethanol futures remain in drydock.
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DiscoverGold
By: Daniel Flynn | February 15, 2023
We kickoff the day with MBA 30-Year Mortgage Rate, MBA Mortgage Index, MBA Mortgage Refinance Index, MBA Purchase Index and MBA Mortgage Applications at 6:00 A.M., Business Inventories, Retail Sales MoM & YoY, NY Empire State Manufacturing Index, Retail Sales Ex Autos MoM, Retail Sales Ex Gas/Autos MoM at 7:30 A.M. , Industrial Production MoM & YoY, Manufacturing Production MoM & YoY and Capacity Utilization at 8:15 A.M., NAHB Housing Market Index and Retail Inventories Ex Autos MoM at 9:00 A.M., EIA Energy Stocks at 9:30 A.M. 17-Week Bill Auction at 10:30 A.M., NOPA Crush at 11:00 A.M., 20-Year Bond Auction at 12:00 P.M., Dairy Products Sales at 2:00 P.M.Net long-term TIC Flows, Overall Net Capital Flows and Foreign Bond Investment at 3:00 P.M.
On the Corn Front farmers, ranchers and meat processors listened to a speech by US Secretary of Agriculture Tom Vilsack spoken by video conference held by President Biden held in Washington on Jan 3, 2022. And the results of that meeting over a year ago are in. The US said on Tuesday it was “disappointed” in the Mexican government’s announcement the previous day which walked back a deadline to ban genetically modified (GM) corn for animal feed and industrial use in the country, but retained its plans to ban the corn for human consumption.” The US believes in and adheres to a science-based, rules=based trading system and remains committed to preventing disruptions to bilateral agriculture trade and economic harm to US and Mexican producers,” Vilsack said in a statement And no victory lap after the Consumer Price Index (CPI). Corn futures closed mixed with news of widely scattered lite showers forecasted in northern portions of Argentina. Good rains across RGDS and Santa Catarina in Southern Brazil. In the overnight electronic session the March corn is currently trading at 678 ½ which is 3 ¾ cents lower. The trading range has been 682 ½ to 678.
On the Ethanol Front more infrastructure failure with Iowa ethanol plant closings without carbon capture pipelines. The lack of stewardship in every project this administration has put their paws on is more than evident. The Iowa Renewable Fuels Association released a study concluding up to 75% of Iowa’s ethanol production is at stake if the state is locked out of carbon capture and sequestration pipeline products. More government waste before our eyes. “Legislation that would effectively shut down Iowa ethanol production,” says Monte Shaw, executive director of the Iowa Renewable Fuels Association (IRFA). Ethanol futures remain in drydock.
Read Full Story »»»
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