Reading Time: 2 minutes New York | Reuters — U.S. President Joe Biden’s administration on Friday denied almost all outstanding petitions from oil refiners asking to be exempted from mandates that require them to mix biofuels into their fuel. The Environmental Protection Agency (EPA), which has the authority to issue the exemptions, denied 26 petitions from 15 small refineries […] Read more
U.S. EPA denies nearly all biofuel blending exemption petitions
Refineries didn't prove hardship, agency said
U.S. to boost biofuel mandates over next three years
Biofuel groups still feel shortchanged
Reading Time: 3 minutes 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 weekly outlook: Canola market rising into summer
New StatCan acreage estimates out next week
Reading Time: < 1 minute 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 weekly outlook: Canola will follow soyoil up or down
Prairie weather another guiding factor
Reading Time: < 1 minute 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
CBOT weekly outlook: Weather market for soy, corn
U.S. targets for biofuel blending pending
Reading Time: < 1 minute 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
Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential
Canada's Competition Bureau pledges to review deal
Reading Time: 3 minutes 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
ICE weekly outlook: Upswings likely out of question for canola
Canada's exports expected to ebb
Reading Time: 2 minutes MarketsFarm — Don’t expect any large increases in canola prices any time soon, according to Ken Ball of PI Financial in Winnipeg. In fact, there’s a good chance seen that old-crop canola could fall below its support level of $800 per tonne. Ball said 2022-23 canola ending stocks in Canada could increase because of the […] Read more
Germany considering withdrawal from crop-based biofuels by 2030
Lawmakers seek to boost biofuel made from wastes
Reading Time: 2 minutes 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 expects U.S. renewable diesel capacity of about five billion gallons by 2024
Reading Time: 2 minutes 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
U.S. EPA proposes revamp of biofuel program to include EVs
Mandated biofuel levels to rise through 2025
Reading Time: 3 minutes 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
A message from April Stewart, Country Guide's Associate Editor
