Your Pro Farmer newsletter (December 3, 2022) is now available

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EPA finally released its biofuels blending proposals for 2023 through 2025. The corn-for-ethanol figures were in line with what was expected. But the soyoil market faced heavy price pressure as the biodiesel figures were lower than traders anticipated. EPA’s proposal also includes regulatory changes to how credits from renewable electricity (eRINs) would be implemented and managed under the RFS program. Amid a flurry of protests across the country, China appears ready to finally relax its Covid policies. Our News page 4 feature this week looks at these two factors and a host of other market, trade and policy issues ahead. On the economic front, the Fed’s fight against inflation isn’t complete, but it appears the pace of gains in interest rates may slow soon – potentially this month amid indications inflation has peaked. We cover all of these items and much more in this week’s newsletter, which you can download here.

 

Latest News

PF Report Reaction: Bullish USDA data for corn
PF Report Reaction: Bullish USDA data for corn

Corn planting intentions and March 1 stocks came in lower than expected.

Report Snapshot: USDA shows lighter-than-expected corn acres and stocks
Report Snapshot: USDA shows lighter-than-expected corn acres and stocks

USDA reported corn acres of 90.036 million acres for 2024 and March 1 stocks of 8.347 billion bu., both well below trade estimates. Soybean acres were slightly lower than expectations, while stocks were higher.

Timeline and Issues in Getting Baltimore Port Channel Reopened
Timeline and Issues in Getting Baltimore Port Channel Reopened

Exxon Mobil and SAF | Fed governor says ‘no rush’ to lower rates | Russia aids Cuba | Key USDA reports today

Cattle Strength Wanes | March 28, 2024
Cattle Strength Wanes | March 28, 2024

Japan works to support Yen, Eurozone cuts production forecast and the Biden Administration will repair Baltimore Bridge...

Ahead of the Open | March 28, 2024
Ahead of the Open | March 28, 2024

Corn, soybeans and wheat traded in tight ranges overnight, with grains showing relative strength into the break.

Weekly wheat sales exceed expectations, while soybeans miss
Weekly wheat sales exceed expectations, while soybeans miss

Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.