Brutal Spring Storms This Weekend. The Corn & Ethanol Report

We started off the day with Dallas Fed Manufacturing Index (Mar) at 7:30 A.M., Fed Waller Speech at 8:00 A.M., 3-Month and 6-Month Bill Auction at 8:30 A.M., and Export Inspections at 10:00 A.M.

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On the Corn Front Spend Edge, a market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries has put out a Global Corn Market Procurement Intelligence Report with COVID-19 Impact Analysis/Global Market Forecast and Analysis 2021-2025. The story was released by PRNewswire. The corn market will register an incremental spend of about USD $36.35 Billion, growing at a CAGR of 2.37 % during the five-year forecast period. A targeted strategic approach to corn sourcing can unlock several opportunities for buyers. The report also offers market impact and new opportunities created due to the COVID-19 pandemic. Key highlights offered in the report, information on how to identify strategic and tactical negotiation levels that will help achieve the best prices. Grain information on relevant pricing levels, detailed explanation of pros and cons of prevalent pricing models, and methods to help engage with the right suppliers and discover KPI’s to evaluate incumbent suppliers. The report could be requested through Spend Hedge or call me for your free demo. In the overnight electronic session, the May corn is currently trading at 546 ½ which is 6 cents lower. The trading range has been 552 to 546 ½.

On the Ethanol front, DTN’s Progressive Farmer website had an interesting story written by Todd Neeley, titled, “Ethanol to Make Case with Biden.” With lukewarm comments made by EPA Administrator Michael Regan seem to have taken a back seat due to memory loss to support the ethanol fuel and the American farmer in which was stated the apple did not fall far from the tree. The clock is ticking before the illusion of electric ends the ethanol dream forever. The administration is quite busy replacing divots in its first two months in office with energy and other important industries. And their silence on this subject is deafening to the ethanol industry and U.S. farmers. There were no trades posted in the overnight electronic session. The April contract settled at 1.885 and we are showing no market at the moment with Open Interest at 35 contracts.

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