Evening Edition | June 6, 2022
In tonight’s Evening Edition, read about the latest USDA Crop Progress Report, the highest-ever ethanol mandate, and Ukraine grain exports.
The USDA released its 10th Crop Progress report Monday afternoon.
The report pegged corn planted at 94%, compared with 92% for the previous five-year average; 78% has emerged compared with 81% for the previous five-year average.
The report has 78% of soybeans planted, compared with 79% for the previous five-year average; 56% has emerged compared with 59% for the previous five-year average.
Watch the video below for additional data.
Ukraine Grain Exports
Ukraine's grain exports have reached 47.2 million tonnes so far in the 2021/22 July-June season, including 148,000 tonnes in the first five days of June, the agriculture ministry said on Monday.
The ministry said the total volume included 18.578 million tonnes of wheat, 22.4 million tonnes of corn and 5.7 million tonnes of barley.
However, Zelensky told a news conference in the capital Kyiv that there could be as much as 75 million tonnes of grain stuck in Ukraine this autumn.
This is because the country is not ready to agree to a plan to export its grain by rail across Belarus for shipment via the Baltic Sea to bypass Russia's blockade of its Black Sea ports.
As part of an effort to “re-set and strengthen” the Renewable Fuel Standard (RFS), the EPA set the corn ethanol mandate at its highest level ever, 15.25 billion gallons, for this year, reports Chuck Abbott.
Ethanol is cheaper than gasoline at present, so biofuel backers said consumers would benefit at the fuel pump with more ethanol in the gasoline supply.
At 15.25 billion gallons, corn ethanol would provide the bulk of the 20.88 billion gallons in the RFS for this year.