Last update: 09.07.2011
US: Ethanol industry comments on WASDE report
Source : domesticfuel.com
The USDA "World Agricultural Supply and Demand Estimate" (WASDE) released this morning that shows corn ending stocks unchanged despite a 50 million bushel increase in corn use for ethanol also shows a gain in global grain stocks. According to the report, global coarse grain supplies for 2010/11 are projected 6.3 million tons higher this month with a 1.8-million-ton increase in beginning stocks and a 4.5-million-ton increase in production. Renewable Fuels Association (RFA) VP of Research and Analysis Geoff Cooper says the report should ease some of the tension in the world corn market. "While stocks are still relatively tight, today's report shows that the corn supply picture is not quite as bad as some were expecting. Corn stocks - both in the U.S. and globally - are a little more robust than the market was anticipating", commented Cooper.
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11 April 2011 |
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