Content ID

328874

Evening Edition | Friday, June 3, 2022

In this Evening Edition, read about mandates and financial support for biofuel producers, the upcoming USDA Grain Stocks and Acreage Reports, and the turkey supply.

USDA Grain Stocks and Acreage Reports

On June 30, the USDA releases its quarterly Grain Stocks and Acreage Reports. June 30 is likely to be another volatile day in the grain markets, writes Al Kluis.

Because the Acreage Report is so important, it's also why we're asking you to take advantage of the opportunity to be a part of our planted acreage survey. You can complete our survey by clicking here. You have until Friday, June 17 to complete the survey.

Once the survey is closed, Kluis Commodity Advisors will assemble the data and participants will be emailed the results as well as any potential trade recommendations by June 28.

Biofuels

USDA Secretary Tom Vilsack announced that the Department has provided $700 million to help lower costs and support biofuel producers who faced unexpected market losses due to the COVID-19 pandemic.

The funds are being made available through the Biofuel Producer Program, which was created as part of the Coronavirus Aid, Relief, and Economic Security Act.

The investments include more than $486 million for 62 producers located in socially vulnerable communities.

The U.S. Environmental Protection Agency on Friday issued biofuel blending mandates for 2022 and the prior two years - with this year's number below one proposed in December - while denying oil refiners waivers to be exempt from the requirements.

The EPA set biofuel blending mandates for 2022 at 20.63 billion gallons and retroactive volume mandates for 2021 at 18.84 billion gallons and for 2020 at 17.13 billion gallons.

Though it denied the oil refiners' exemption petitions, the agency said it would allow extra time for small refiners to meet their 2020 blending obligations.

Turkey Supply

Bird flu will have a “meaningful impact” on turkey supplies in coming months, said the head of Hormel Foods, the second-largest turkey processor in the country, on Thursday.

Chief executive Jim Snee said Hormel anticipated “large supply gaps” for its Jennie-O Turkey Store operations in the months ahead because of flock losses.

Chuck Abbott reports that more than 5.3 million turkeys on 119 farms have died of highly pathogenic avian influenza or in culling of infected flocks this year.

Read more about
Loading...

Talk in Marketing