In early October, rumors began to circulate that the EPA was set to reduce the minimum ethanol blend that it mandates the U.S. fuel industry blend into gasoline. Over the past decade we’ve seen explosive growth for the U.S. corn-based ethanol industry.
Pete Nessler, CEO of FCStone Group, was raised in Chicago but earned his stripes in the grain fields of Iowa. Working with elevators and farmers, he helped turn Farmers Commodities Corp. from a group of co-ops into the international brokerage firm INTLFCStone that it is today.
Sugar prices have bounced off multi-year lows, possibly because of the upcoming expiry of the October contract, a prevalent pattern for expiries over that past year and a half. Developments on the supply/demand front have been mixed.
Oil prices are trying to assess the potential risk to supply with the possibility of a more forceful response to the Assad Regime. Talk of U.S. warships being sent to the region had buyers come in early trading Sunday night.
In a high stakes game of chicken between the renewable fuel industry, the refining industry and the Environmental Protection Agency, it appear that the EPA just made a turn before hitting the brick blendwall.
Sugar prices continue to trend lower and are now trading at a three-year low. According to the ISO, there will be a global production/consumption surplus of 8.5 million tonnes for the 2012-13 marketing year. The ISO forecasts another surplus for the new crop year.