With 14 of 19 February trading days complete, U.S. 2021 insurance guarantees are unlikely to change drastically from here barring an unexpected market shocker next week. #Corn & #wheat looking at 7-year highs, #soybeans 8-year. All of these prices have trended upward this month.
Traffic of #soybeans has picked up noticeably over the last week, especially cargoes out of Santos heading to #China. However, the rain delays are apparent in the north because there have been fewer vessels loading and departing over the last few days.
Here's a recent time series for comparison: Feb 12 Feb 5 Jan 15 Dec 7
U.S. gasoline output was off sharply last week as was gasoline demand. Finished motor gasoline supplied to the U.S. market fell 14% on the week to the lowest level since May 17, 2020, the height of the pandemic lockdown.
HUGE plunge in U.S. #ethanol output last week due to the extreme cold that caused natural gas shortages, drop in gas production, & other historic interruptions. Output fell 28% on the week to 658KB/D. Only 5 weeks during the pandemic (April 10 - May 8, 2020) had lower output.