Grains Take a Turn June 22, 2023
Weekly ethanol production data from the EIA was released this morning. Though it would appear positive we won't get excited. 1.052 million barrels per day in production was reported for last week's activity. It sounds good as it was the best since November. But this is the peak driving season. Compared with the last normal driving season, 2018/19, this run was -2.7%. Year to date runs of -3.7% remain under USDA’s whole-year corn for ethanol goal of -2.4%. We remain behind USDA's corn for ethanol goal by 20 - 40 million bushels. Gasoline demand this past week was -5.6% from 2018/19. It was near the prior week’s -6.9% trade.
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Allendale Insider
Allendale Insider
On The Go
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Soybeans and wheat see pressure this week. Corn holds.
September 22, 2023
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Cattle on Feed confirms a return to lower placements. Q2 supplies will be tight.
September 22, 2023
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Pork questions remaining procurement. Cattle hit by weights, beef and the stock market.
September 21, 2023
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Grains show export sales disappointment.
September 21, 2023
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Hogs surpass last week’s high.
September 20, 2023
On The Go
September 22, 2023
September 22, 2023
September 21, 2023
September 21, 2023
September 20, 2023
Market Movers
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December found light support at 474 yesterday/last night, chart open to 467 ¾, rains added again.
September 22, 2023
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Rains dramatically reduced in the 6 – 10 day forecast, exports may be expected disappointing.
September 21, 2023
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Rains in the 10-day outlook may slow harvest and offer mild support, exports are needed.
September 20, 2023
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Harvest at 9%, analysts expected 10%, the forecast may slow harvest days 1 – 5
September 19, 2023
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Funds were aggressive sellers of 41K, now short 135K or 42% of record, solid harvest forecast.
September 18, 2023
Market Movers
September 22, 2023
September 21, 2023
September 20, 2023
September 19, 2023
September 18, 2023
Snapshots
Snapshots