The Energy Information Administration (EIA) released its October Short Term Energy Outlook (STEO) cutting ethanol, biodiesel, and gasoline use projections for 2021.
EIA’s forecast of actual ethanol blending for 2021 is about 13.92 billion gallons, which is 11 percent of the forecast 126 billion gallons of gasoline use. Ethanol production for the rest of 2020 was forecast to remain the same as projected in September at 900,000 bbl/day and biodiesel will increase 1,000 barrels to 113,000 bbls/day for the rest of the year. Looking ahead to Friday’s WASDE, the EIA projections, on top of September 2020 weekly production, would put MY 2020/21 corn use at about 5,325 million bushels, or 225 million bushels more than th...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
