04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Ethanol Production and Stocks Preview
Analysts’ believe weekly ethanol production will increase slightly this week after pulling back to 1.011 million gallons per day last week. Production forecasts regarding tomorrows report are expected to be within the range of 1010 to 1022 thousand barrels per day, with an average estimate of 1016, which would be a five thousand barrels per day increase from last week. Analysts are expecting to see a further draw down on ethanol stocks anywhere between 18.5 million barrels to 19.1, with an average estimate of 18.79. Should stocks fall to the average estimate, they would be at their lowest level since December 30, 2016 when then declined to 18.68 million barrels.
Market Information Shifts from Planting to Crop Condition
Corn and soybean planting are several weeks ahead of…