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The FBN Team provides a macro-focused daily view of the world’s grain markets. Kevin McNew received a bachelor’s degree from Oklahoma State University and his master’s and Ph.D. degrees in Economics from North Carolina State University. He spent 10 years as a Professor of Economics with the University of Maryland and Montana State University focusing on commodity markets and is widely regarded for his ability to boil-down complex economic situations into easy-to-understand concepts for applied life.
Grains mixed in the overnight
Ethanol production climbs as stocks fall
Export sales miss the mark this week
Weekly Ethanol Production Climbs
Ethanol production increased this week to 1.040 million bpd, up from 1.032 million bpd LW. TW production was 3.4% above last year during the same week, while cumulative YTD ethanol production has averaged 2.3% above LY. U.S. Ethanol stocks declined to 21.964 million barrels from 22.142 million barrels LW. Stocks remain below LY by 4.7%.
Wheat, corn and soymeal all missed analyst estimates when it came to export sales this morning. Old crop wheat sales were down 85% from LW. Old crop corn sales were down 32% from LW. Soymeal reported a marketing year low, down 63% from LW.
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