GFM Network News


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U.S. EPA recommends lowering 2020 biofuel mandates retroactively

Agency not confirming or denying sources' statements

Reuters — The U.S. Environmental Protection Agency has recommended retroactively lowering biofuel blending mandates for 2020, two sources familiar with the matter said, after the agency on Thursday sent a proposal on the mandates to the White House for review. The move could provide immediate relief to oil refiners that have to comply with the […] Read more

(Dave Bedard photo)

U.S. appeals court rules for environmental groups in biofuel case

New York | Reuters — The U.S. Court of Appeals for the District of Columbia Circuit ruled on Friday in favour of environmental groups who argued against the U.S. government’s conclusion that biofuel blending obligations posed no danger to species’ habitats. The Environmental Protection Agency decides on the amount of biofuels that oil refiners must […] Read more



CBOT December 2021 corn (candlesticks) with 20-, 50- and 100-day moving averages (yellow, dark green and black lines). (Barchart)

U.S. grains: Corn futures retreat on profit-taking

Corn still up 12 per cent on week; traders adjust positions before July 4 weekend

Chicago | Reuters — Chicago Board of Trade corn futures retreated on profit-taking on Friday, while soybean futures extended gains fueled by lower-than-expected U.S. acreage estimates and dry weather in part of the Midwest, traders said. Corn pulled back after surging by the daily, exchange-imposed limit on Wednesday when the U.S. Department of Agriculture shocked […] Read more


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U.S. Supreme Court backs refineries in biofuel waiver dispute

Top court overturns ruling against EPA granting waivers

Reuters — The U.S. Supreme Court on Friday made it easier for small oil refineries to win exemptions from a federal law requiring increasing levels of ethanol and other renewable fuels to be blended into their products, a major setback for biofuel producers. The justices overturned a lower court decision that had faulted the U.S. […] Read more

Storage tanks at a PBF Energy refinery at Delaware City, Delaware on Aug. 21, 2015. (File photo: Reuters/Charles Mostoller)

U.S. refiners amass biofuel liability as Biden mulls relief

Open RIN positions could hit refiners' earnings

New York | Reuters — U.S. merchant refiners have amassed up to a US$1.6 billion shortfall in the credits they will need to comply with U.S. biofuel laws, according to a Reuters review of corporate disclosures, an apparent bet that the Biden administration could let them off the hook or that credit prices will fall. […] Read more


CBOT May 2021 corn with Bollinger (20,2) bands. (Barchart)

U.S. grains: Corn climbs on exports, ethanol

Dry weather expected to slow U.S. spring wheat seeding; soy steady ahead of WASDE

Chicago | Reuters — U.S. corn futures climbed on Thursday on export optimism and positioning ahead of the U.S. Agriculture Department’s monthly supply and demand report, out on Friday, traders said. Wheat gained as frigid temperatures across Europe and the Black Sea region threatened crops. Soybeans were also firmer. The most-active corn contract on the […] Read more

A corn crop west of Grunthal, Man. on Aug. 17, 2019. (Dave Bedard photo)

CBOT weekly outlook: High U.S. corn prices cut into ethanol production

MarketsFarm — Upcoming reports from the U.S. Department of Agriculture are expected to steer Chicago Board of Trade (CBOT) futures, at a time when high corn prices in the U.S. may be cutting into ethanol production in that country. According to the U.S. Energy Information Administration’s report released on March 3, 849,000 barrels of ethanol […] Read more


CBOT May 2021 corn with Bollinger (20,2) bands. (Barchart)

CBOT weekly outlook: Weather wreaks havoc on crops

MarketsFarm — Unusual weather, both in North and South America, has significantly affected commodities this week at the Chicago Board of Trade, according to a broker. A brutal cold snap, extending from northern Canada to the U.S.-Mexico border, has slowed down soybean crushing, halted production at ethanol refineries and raised energy prices in the U.S., […] Read more

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Some U.S. ethanol producers cut production to sell natural gas for profit

New York | Reuters — Sky-high U.S. natural gas prices have prompted some Midwestern ethanol producers to reduce processing in the last week, hoping instead to sell off some of their natural gas to take advantage of current high spot prices caused by the spike in cold weather, industry sources said. Ethanol margins in the […] Read more