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Midday Update



Midday Update

·         USDA’s daily export reporting service today confirmed the sale of 7.4 million bushels of U.S. new-crop soybeans to “unknown destinations.”

·         The EPA released its proposed biofuel mandates for 2014, 2015 & 2016 this morning.

·         Corn-based ethanol mandates are 13.25 billion gallons in 2014, versus 13.01 in previous plan; 13.4 bln glns in 2015, vs 15 bln in 2007 law; 14 bln glns in 2015 vs 15 bln in 2007 law. Total reduction in mandate from 2007 law over the three years is 3.75 billion gallons.

·         Biodiesel mandates are 1.63 billion gallons in 2014, 1.7 bln in 2015, 1.8 bln in 2016 and 1.9 bln in 2017.



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Arlan Suderman | Senior Market Analyst
WATER STREET ADVISORY® | www.waterstreet.org
(316) 729-4599 | asuderman@waterstreet.org

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