On his first day in office, President Donald Trump took the unprecedented step of declaring an energy emergency, which included year-round sales of E15.
Geoff Cooper with the Renewable Fuels Association says it is a promising move.
“Just encouraged that they’re keeping a close eye on the situation,” Cooper said. “It was great to hear that the new Trump team will be prepared to issue emergency waivers come summertime, if they need to, to allow continued sales of E15. Obviously, that’s important to us because E15 is a growing market for ethanol, which means it’s helping to support demand for corn, but it’s also providing consumers a lower-cost option at the pump, which of course is good for everybody.”
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Larger grain stocks increase supply pressure, but strong fall disappearance — especially for corn and sorghum — suggests demand remains an important offset.
Record corn and sorghum crops boost feed grain supplies, while reduced soybean and cotton production tighten outlooks for oilseeds and fiber markets.
Lewis Williamson with HTS Commodities joined us to provide analysis on the January WASDE report and expectations for grain markets going forward.
Market reaction was bearish for corn and soybeans, with analysts noting that abundant supplies amid tepid demand could keep price pressure on agricultural commodities.
Traders are keeping a close eye on China’s soybean purchases as markets track export sales, shipments, and progress toward the ‘magical’ 12 million ton target promised last year.
As domestic production and blending slowed, export demand remained a clear bright spot.
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In a post to social media, Trump said Venezuela will buy American agriculture products and will use the money from oil sales to make it happen.
