Grains seeing strength in the overnight session with beans up 2 ¼ cents, corn up ½ cent, and wheat up 4 cents.
Commodities Broker Marex Spectron announced yesterday its agreement to acquire Rosenthol Collins.
Pacific Ethanol Inc has laid off 43% of its workers at an ethanol plant in Aurora, Nebraska due to poor economics in biofuel production. The company is the sixth-largest U.S. ethanol producer, and also idled 45 million gallons of production capacity at the Nebraska site and had no near-term plans to restart it, the sources said, while another part of the plant continues to operate.
The U.S. Environmental Protection Agency granted oil major Exxon Mobil Corp a financial hardship waiver this year temporarily freeing its Montana refinery from U.S. biofuel laws, three sources familiar with the matter told Reuters. Exxon, which reported earnings of almost $20 billion in 2017, became the largest known company to be awarded a such a waiver by the Trump administration's EPA under a program meant to protect the smallest fuel facilities from going bust.
Chart of the Day
Ukraine’s Ag Ministry yesterday estimated 2018 corn pro-duction at a record 35.5 million tonnes, half a million above the working USDA estimate (itself having been increased sharply in recent months), with total grain output almost a million and a half tonnes above the USDA at a record 70.1 MMT. Soybean output also hit a record at 4.4 MMT this season (even with the USDA estimate). UKR wheat pro-duction has been steady-to-lower since ‘15/16 highs, with corn output rising right around 50% in the three years since.