Grain Markets and Other Stuff
@grainmarketsandotherstuff·35K subscribers·1.5K videos
Biofuel News: Either Bad or Missing
Posted
August 14, 2024
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August 14, 2024
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Thanks for the detailed update! Here’s a quick summary of today's key points:
💼 Darling Ingredients' Stock Surge: Shares skyrocketed up to 16% due to proposed changes in California’s low-carbon fuel program, favoring Darling's use of used cooking oil over seed oils like soybean and canola in green diesel. 📈🌱
🌦️ Weather Update: Rains graced Nebraska and are moving into Iowa, with more rainfall expected across parts of the US Corn Belt in the coming days. Temperature-wise, we’re looking at near-normal conditions for most of the corn and soybean areas. 🌧️☀️
📉 Cargill’s Revenue Decline: The first decline in years, dropping nearly 10% to $160 billion due to global grain surpluses and tight crush margins, coupled with high cattle prices impacting profits. 📊🐄
🌾 Egypt’s Wheat Negotiations: Egypt aims to capitalize on low wheat prices by purchasing 1.8mmt from Russia and other sellers, trying to bulk up its reserves while facing pricing challenges. 🌍🍞
💹 Flash Sales and Market Reactions: Notable soybean and corn sales to China and Mexico, respectively, and a positive stock market response to lower-than-expected US producer prices hinting at easing inflationary pressures. 📈🌽📉
Seems like a dynamic mix of policy, weather, and market movements shaping the day! How are these changes impacting your perspective or plans?
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