Biofuels preparing to take flight
After soaring in the early 2000s only to see more modest growth in recent years, the biofuels industry might be on the verge of flying high again … about 35,000 feet high to be exact. A push by “green” energy proponents for a more environmentally friendly airline fuel has led to the development of sustainable...
Brazil’s grain production dips in 2023-24
Grain production in Brazil is estimated at 298.41 million tonnes for the 2023-24 marketing year, a drop of 21.4 million tonnes compared to the previous year, according to Conab, the country’s food supply and statistics agency. This would still be the second largest crop in the survey’s history. In its 12th Grain Harvest Survey for 2023-24...
Dryness stressing Ukraine, Russia crops
As if the Russia/Ukraine war was not enough to deal with, the region has been enduring a very dry summer. Crop stress in the region is peaking for the third time this growing season with very warm to hot temperatures and limited rain. Soil moisture has never been much more than marginally adequate since spring. Recently, the...
Corn futures dip to four-year lows
The bulls seem to have abandoned corn futures and are giving few indications they expect to return anytime soon. On Monday, Aug. 26, the CME Group September and December contracts sank to their lowest levels since October 2020, with the spot month down 23% from a year ago and the contract falling 26% since the...
Be8 breaks ground on ethanol plant
Be8, a Brazilian renewable energy company, said it has agreed with Praj, an Indian company and global leader in bio-energy, to establish its first ethanol plant in Passo Fundo, Rio Grande do Sul. The plant, which will convert wheat into ethanol, will be the first large-scale refinery in Rio Grande do Sul to produce biofuel...
Brazil corn production, exports to drop
Brazil expects to harvest 4.6 billion bushels (116.8 million tonnes) from its three corn crops in the 2023-24 season, a drop of 12% from last year’s record harvest, according to the National Supply Company (Conab), the Department of Agricultural and Consumer Economics at the University of Illinois said in its farmdoc daily. Despite the drop...
Grain market review: Coarse grains
The last several weeks have seen a mixed trend for maize (corn), although there was weakness in the United States on planting and yield expectations. The July World Agricultural Supply and Demand Estimates (WASDE) report from the US Department of Agriculture added more bullish ideas on demand to the factors involved. In its Grain Market...
US wheat, corn, soybean stocks up from 2023
The US Department of Agriculture (USDA) on June 28 said domestic stocks of wheat, corn and soybeans on June 1 were up more than 20% from a year earlier. The USDA, in its quarterly Grain Stocks report, estimated June 1 old-crop all wheat stocks, which comprise the 2024 carryover, at 702 million bushels, up 23%...
Key US crop areas battle too much, too little rain
Weather typically is the main force affecting agricultural commodity markets, from planting in the spring (or fall for winter wheat) to harvest in the fall (or summer for winter wheat), especially during the growing season for all crops. The most recent examples were from Russia, the world’s largest wheat exporter, and Brazil, the world’s largest...
Australian winter crop totals expected to increase 9%
Australia’s overall winter crop production is expected to increase 9% to 51.3 million tonnes in 2024-25 and be the fifth highest on record, according to the June report from ABARES. Wheat production is forecast to increase by 12% to 29.1 million tonnes, while barley production is estimated at 7% to 11.5 million tonnes. Canola production...