|Day's range||371.25 - 372.00|
WASHINGTON (AP) — The Trump administration is proposing to allow year-round sales of gasoline mixed with 15 percent ethanol, seeking to calm a dispute that has riled two politically important blocs — the oil industry and corn farmers.
The Environmental Protection Agency proposal is a first step in fulfilling President Donald Trump’s promise to unleash sales of gasoline containing 15 percent ethanol and deliver at least a symbolic victory to corn farmers in the Midwest who have been battered by his trade fight with China. Air pollution requirements currently block sales of that E15 gasoline from June 1 to Sept. 15 in areas where smog is a problem, and the EPA proposal would effectively lift those restrictions so it could be sold year round. At the same time, the administration is seeking to mollify some independent oil refiners that complain about volatile prices and possible hoarding of the credits required to prove they have satisfied annual biofuel blending quotas.
Traders had been expecting purchases of corn as well as ethanol and distillers dried grains, a byproduct of biofuel production that’s used in animal feed. In fact, China’s state grain stockpiler Sinograin was Thursday in the market agreeing to contract terms for potential corn purchases, according to people familiar with the matter who asked not to be identified because the information is private. The market had been on the lookout for “rumors of corn business being done,” said Matt Janney, a trader at Futures International, a brokerage firm in Chicago.
To hear the Americans tell it, the Chinese have gone on a commercial crime spree, pilfering trade secrets from seed corn to electronic brains behind wind turbines. China has stripped the arm off a T-Mobile robot, the U.S. says, and looted trade secrets about robotic cars from Apple. The alleged victims are American companies, whose cases lie behind the U.S. complaints in the current trade talks.
The U.S. Attorney's Office in Cedar Rapids, Iowa, said in a filing Wednesday that potentially "tens of thousands" were defrauded by Randy Constant and his associates into paying a premium for products that they didn't want. Constant, of Chillicothe, Missouri, and three others have pleaded guilty and are awaiting sentencing. Constant, who owned an Iowa grain brokerage, acknowledged that he sold $142 million worth of corn, soybeans and wheat over a 7 ½ year period that wasn't organic despite his representations.
The Trump administration is moving to allow year-round sales of gasoline with higher blends of ethanol, a boon for farm states that have pushed for greater sales of the corn-based fuel.
Grain prices are lower after corn and soybeans broke down on Thursday. At the same time export sales are down which has helped price break lower. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal.
Grain prices are higher in early North American trade. This occurs as the MACD line (the 12-day moving average minus the 26-day moving average) crosses below the MACD signal line (the 9-day moving average of the MACD line).
Grain prices are higher across the board in early North American trade. Corn rebounded after breaking down through trend line support. Export sales were higher than expected in the latest week but failed to buoy prices. Hedge fund traders barely changed their positions in corn while adding to short positions in wheat futures and options. Tariff issues remain as the Trump Administration levied trade Steel and Aluminum tariffs on Europe, Canada and Mexico which could eventually experience retaliation on farm products.Corn Prices
Grain prices are lower in early North American trade. Prices are testing support as export sales rise. Tariff issues remain as the Trump Administration levied trade Steel and Aluminum tariffs on Europe, Canada and Mexico which could eventually experience retaliation on farm products.Corn Prices
Grain prices continue to whipsaw and are mixed in early North American trade. Corn and soybeans are higher while wheat prices are lower. Momentum has turned negative as the MACD (moving average convergence divergence) index generated a crossover sell signal.
Grain prices are moving lower in early North American trade on Monday. Wheat is taking it on the chin, but soybean and corn are also lower. Corn export activity moved lower in the latest week, but the 4-week average was down. Current export sales are 1% behind last year’s pace.Corn Prices
Grain prices are lower in early North American trade on Friday following Thursday USDA World supply and Demand report. The latest WASDE data showed the 2018/19 outlook for US soybeans to reflect higher supplies, crush, exports, and lower ending stocks compared with the 2017/18 crop. 2018/19 corn use is forecast to decline modestly from a year ago on reductions in domestic use and exports. However, corn used to produce ethanol is forecast 50 million bushels higher, largely due expectations of gasoline consumption growth. The 2018/19 wheat crop is projected at 1. ...
Grain prices are mixed ahead of Thursday USDA supply-demand report. Corn and soybean prices have pushed higher while wheat prices are slipping. Traders are positioning for the USDA’s monthly supply-and-demand report which is expected to show a reduction in global grain stocks due to falling production estimates out of South America and the US. Corn prices are higher in early North-American trade on Thursday and continue to consolidate above support near the 10-day moving average which coincides with the breakout level at 3.95. Resistance is seen near the May highs at 4.00.
Grain prices are mixed in early North American trade on Wednesday. Looking ahead to the USDA monthly WASDE report Thursday will be wondering whether China taps its corn reserves, as opposed to purchasing it from the US on the open market. Global demand for corn in 2018-19 should surpass production, but China could generate relief by dippings into its own surplus. Corn prices edged higher early North-American trade on Wednesday.
Grain prices are giving back some of their recent gains. Corn and Wheat prices have broken out and soybean have lagged given concerns over tariffs in China which are weighing on prices. The soybean crush continues to show robust demand, which should keep soybean prices buoyed.
Corn and wheat price broke out to fresh-highs on Tuesday and are consolidating their gain in early trade on Wednesday. Soybean prices climbed but were unable to pierce through resistance. Cold weather and slow plant were the catalysts for the breakout. The cold weather is now in the rearview mirror and warmer than normal weather that is dry is expected to take its place.Corn Prices
Grain prices are consolidating and are lower in early trade on Tuesday after attempting to break out on Monday. Wheat corn and wheat retained their breakout posture, soybean prices quickly retraced and are back in their prior range. Colder than normal weather is expected to cover most of the mid-west over the next 2-weeks according to a forecast from the National Oceanic Atmospheric Administration. Corn was unable to close above resistance at 3.94 and is lower on Tuesday but within the range made Monday Support is seen near the 10-day moving average at 3.846. Momentum has turned positive as the MACD (moving average convergence divergence) index generated a crossover buy signal.
Grain prices are higher on Thursday after rebounding sharply on Wednesday. Corn, wheat and soybean prices ended with gains on Wednesday as traders took stock of this spring’s late planting start. The last start to the planting season has given grain prices a boost. The cold inclement weather has subsided which should allow planting to catch up.