As soybean growers look for new buyers in the coming weeks and months, biodiesel has proven to be a reliable market. With new renewable volume obligations announced this year, the Iowa Soybean Association says they’ll be vital to a farmer’s bottom line.
On the ethanol side, output has been down lately. Numbers released earlier this month by the U.S. Energy Information Administration (EIA) show refineries produced at their lowest amount since May.
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Rising ethanol stocks and softer gasoline demand bear watching, but stronger blending activity and exports offered some support.
Corn export demand remains supportive, but weak pork and rice sales show uneven global demand trends.
