EPA Released Renewable Fuel Standard Volumes
Good Morning!
Yes, the EPA released the final volumes for the coming years. These are rough numbers but deemed as accurate as possible. The Biomass-based Diesel volumes are as follows, 2014 1.63 billion gallons, 2015 1.73 billion gallons, 2016 1.90 billion gallons and 2017 2.00 billion gallons. The rule also includes growth in the overall Advanced Biofuel volumes which is offering further growth to bio-diesel and the numbers are as follows, 2014 2.67 billion gallons, 2015 2.88 billion gallons and 2016 3.61 billion gallons. Contributing to these statistics is Lee Enterprises Consulting, Inc...
This number did not cause a stir in the Ethanol futures markets as no trades were posted in the overnight electronic session. The December contract settled at 1.490 and is currently showing a bid @ 1.478 and 1 offer @ 1.575.
On the corn front the December contract is currently trading at 367 ½, which is 2 ½ cents higher. The trading range has been 368 to 365 so far. The upward movement we have seen in the last session is still not enough to have farmers doing backflips.
On the crude oil front the January contract is currently trading at 4172, which is 7 points higher in the overnight electronic session. The trading range has been 4219 to 4153 so far. The market seems to be hanging in this patch and will not close below $40 a barrel.
On the natural gas front the market remains in no man’s land as unseasonable warm weather keeps the bulls away. In the overnight electronic session the January contract is currently trading at 2.235, which is unchanged. The trading range has been 2.258 to 2.213 so far.