Content ID

320991

3 Big Things Today, November 26, 2021

Grain, Soybean Trading Closed Overnight; Weekly Ethanol Production Jumps

1. Grain and Soybean Trading Closed Overnight

Grain and soybean trading in Chicago was closed overnight for Thanksgiving.

Trading will resume at 8:30 a.m. central time.

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2. Ethanol Production Rises to Three-Week High

Ethanol output jumped to a three-week high last week while inventories also improved, according to the Energy Information Administration.

Production of the biofuel rose to an average of 1.079 million barrels a day in the week that ended on Nov. 19, the EIA said in a report.

That's up from 1.06 million barrels a day, on average, the previous week and the highest level since Oct. 29.

In the Midwest, by far the biggest producing region, output rose to an average of 1.024 million barrels a day, up from 1.008 million barrels a week earlier, the agency said. That's also the highest since the seven days that ended on Oct. 29.

Gulf Coast production rose to an average of 22,000 barrels a day from 21,000 barrels the previous week. West Coast output was up to 10,000 barrels a day from 9,000 a week earlier, the government said.

East Coast output was unchanged at 12,000 barrels a day and Rocky Mountain production stayed at 11,000 barrels a day.

Ethanol stockpiles, meanwhile, were up week-to-week.

Inventories in the seven days through Nov. 19 rose to 20.164 million barrels from 20.081 million a week earlier, the EIA said in its report.

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3. Dry Weekend Weather Expected From Nebraska to Texas

Red-flag warnings have been issued for parts of western Nebraska through this evening due to dry weather in the area, according to the National Weather Service.

West winds are expected from 15 to 25 miles an hour with gusts of up to 40 miles an hour, the NWS said in a report early this morning. Relative humidity is pegged from 12% to 17%.

Outdoor burning is not recommended.

Western Kansas also will be dry as humidity is seen as low as 10% today and tonight. The dry weather will continue through the weekend, the agency said.

In the Oklahoma and Texas panhandles, meanwhile, there's a risk of wildfires over the weekend.

Temperatures in the area are expected to top out in the mid-60s Saturday and wind gusts are forecast from 25 to 30 miles an hour, creating extremely dry conditions.

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