Ethanol production tilted 28% lower this past week to multi-month lows of just 658,000 barrels per day. The question is – why? Hint: it had something to do with subzero temperatures and surging natural gas prices.
That’s just one of several topics we discussed in the latest Midweek Markets podcast. There are also several trends that have been driving grain prices substantially higher in recent sessions, including weather woes in the U.S. and abroad. For example, the South American soybean harvest has been hampered by recent rains, and freezing temperatures earlier this month may have damaged crops in the U.S., along with Ukraine and other Black Sea region countries.
Farm Futures grain market analyst Jacquie Holland also breaks down what she learned at last week’s USDA agricultural outlook forum and tells producers what’s worth monitoring moving forward.
Listen to the latest Midweek Markets podcast for February 24, 2021: