|
Buxton ND | Those reports are funny,sometimes there updated on Wednesday sometimes Thursdays. 2011 weekly number were about .910 mb per day with a yearly use of 4.9 bb of corn. So far this year were running give or take .810 mb. So a 11% drop year over year 4.9 bb x 11%= 4.36 and USDA's number sitting on 4.5 bb for the 12-13 marketing years.. SO depending on the RBOB/E spread and how much gets blended in the coming months, that spread currently .26 futures is toward the lower end on the range which in the past has lead to less blending of Alcohol......
.930 mb last year compare o .803 last week but last year E plants were running hard and heavy to get every gallon in on the BTC before year end...
17mb E stock last year compared to 18.3 last week and early this spring. With last April/May E stocks setting all time record highs at some over 22mb
What I've heard RINS credits saved up equal about .500 mb bushel of corn (anyone has some more current number please share) RINS were put in place for years of a short corn crop....when the blenders choose to use those RINS credit IMO is a big deal to the corn market
May would you post a RBOB/E spread charts please ? Maybe a past year and one 3-5 years.Thanks | |
|
Ray J.
