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Veteran Advisor

Floor Talk April 14, 2021

At 1:00pm:


The Renewable Fuels Association's press release on the EIA's Weekly Ethanol Production:

According to EIA data analyzed by the Renewable Fuels Association for the week ending April 9, ethanol production slowed by 3.5%, or 34,000 barrels per day (b/d), to 941,000 b/d, equivalent to 39.52 million gallons daily. Production was 65.1% above the same week last year when the effects of the pandemic were reflected but was 7.4% below the same week in 2019. The four-week average ethanol production rate decreased 0.7% to 951,000 b/d, equivalent to an annualized rate of 14.58 billion gallons (bg), the RFA press release stated.
Ethanol stocks tightened by 0.6% to a 21-week low of 20.5 million barrels, which was 25.3% below a year-ago and 9.5% below this time in 2019. Inventories drew down across all regions except the East Coast (PADD 1) and West Coast (PADD 5).

At 11am:

At midsession, the May corn futures are 12 1/4¢ higher at $5.92 1/4.

July corn futures are 11 1/2¢ higher at $5.78. New crop December corn futures are 4 1/4¢ higher at $5.08 1/4.

May soybean futures are 19 1/2¢ higher at $14.08 1/2. July soybean futures are 16 3/4¢ higher at $14.01 1/2. New crop November soybean futures are 12 3/4¢ higher at $12.64 1/4.

July wheat futures are 18¢ higher at $6.51 3/4.

July soymeal futures are $1.30 short term higher at $401.30.

July soy oil futures are +1.11 higher at 52.26¢ per pound.

In the outside markets, the NYMEX crude oil market is +2.62 higher (+4.35%) at $62.80. The U.S. dollar is lower, and the Dow Jones Industrials are 213 points higher (+0.63%) at 33,890 points.



At 8:45am:


Corn nears $6.00 level.



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Honored Advisor

Re: Floor Talk April 14, 2021

$6 june July at e plant Menlo ia