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Tag Archives biofuel

(Jimfeng/iStock/Getty Images)
Crops, Machinery, Reuters

U.S. to boost biofuel mandates over next three years

Biofuel groups still feel shortchanged

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Reuters — The Biden administration on Wednesday increased the amount of biofuels that oil refiners must blend into the United States’ fuel mix over the next three years, but the plan has angered the biofuel industry, which says mandates for corn-based ethanol and biodiesel are not high enough. The U.S. Environmental Protection Agency has finalized […] Read more
ICE July 2023 canola with 20-day moving average (yellow line, right scale) and CBOT July 2023 soybean oil (dark green line, left scale). (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola market rising into summer

New StatCan acreage estimates out next week

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MarketsFarm — ICE Futures canola contracts have climbed steadily higher since their late-May lows, nearing chart resistance to the upside on the first day of summer. Updated renewable fuel targets released by the U.S. Environmental Protection Agency failed to live up to expectations, sparking a speculative selloff in soyoil. While the limit-down move in soyoil […] Read more
ICE July 2023 canola with 20- and 50-day moving averages. (Barchart)
Canola, Crops, Markets

ICE weekly outlook: Canola will follow soyoil up or down

Prairie weather another guiding factor

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MarketsFarm — Although canola prices have been somewhat erratic over the last weeks, they along with other oilseeds have generally rebounded, according to trader Ken Ball of PI Financial in Winnipeg. Ball commented there has been a good amount of short-covering in soyoil at the Chicago Board of Trade, as markets positioned themselves for an […] Read more
Soil cracks around corn plants below knee-high at Manchester Township, about 130 km west of Philadelphia in southern Pennsylvania, on June 6, 2023. (Photo: Paul Kuehnel/USA Today Network via Reuters)
Crops, Markets

CBOT weekly outlook: Weather market for soy, corn

U.S. targets for biofuel blending pending

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MarketsFarm — With soybean and corn seeding nearing completion across the United States, attention in the futures markets is focused squarely on growing conditions. “We’re in a weather market, so look for traders to keep these prices chopping around over the next few weeks,” said Terry Reilly of Futures International in Chicago. Relatively dry conditions […] Read more
Viterra’s oilseed crush plant at Becancour, Que. (Viterra.com)
Crops, Machinery, Markets, Reuters

Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential

Canada's Competition Bureau pledges to review deal

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Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase […] Read more
File photo of a combine at work during a harvest in Germany. (Abadonian/iStock/Getty Images)
Crops, Machinery, Reuters, Weather

Germany considering withdrawal from crop-based biofuels by 2030

Lawmakers seek to boost biofuel made from wastes

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Hamburg | Reuters — Germany’s government is considering proposals to phase out the use of biofuels produced from food or animal feed crops by 2030, the German biofuels industry association (VDB) said on Tuesday, adding the measure could increase carbon emissions. German environment minister Steffi Lemke said Jan. 17 she will soon send proposals to […] Read more
(Bunge video screengrab via Vimeo)
Crops, Markets, Reuters

Bunge expects U.S. renewable diesel capacity of about five billion gallons by 2024

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Chicago | Reuters — U.S. renewable diesel production capacity will more than double to about five billion gallons by 2024 from about two billion gallons, Bunge CEO Greg Heckman said on Tuesday. The agricultural commodities trader has not altered its own capacity plans due to a U.S. government proposal on biofuels announced last week, Heckman […] Read more
(Scharfsinn86/iStock/Getty Images)
Crops, Machinery, Markets

U.S. EPA proposes revamp of biofuel program to include EVs

Mandated biofuel levels to rise through 2025

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New York | Reuters — U.S. President Joe Biden’s administration on Thursday unveiled a three-year proposal to expand the U.S. biofuels policy with bigger volume mandates and — for the first time — to include a pathway for electric vehicle manufacturers to generate lucrative credits. Biden wants to fight climate change by reducing fossil fuel […] Read more
CBOT January 2023 soybeans (candlesticks, right column) with 20- and 100-day moving averages and CBOt January 2023 soyoil (blue line, left column). (Barchart)
Crops, Markets, Reuters

U.S. grains: Soy snaps win streak on disappointing biofuel mandates

Wheat falls on export sale data; soy weakness weighs on corn

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Winnipeg | Reuters — Chicago soybeans fell on Thursday, snapping five days of gains as soybean oil sold off sharply after the U.S. government proposed smaller-than-expected biofuels blending requirements. Wheat slid on disappointing export sales, while soybean weakness dragged corn lower. The most-active soybean contract on the Chicago Board of Trade (CBOT) settled down 39-3/4 […] Read more

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