The Board of Directors of Siouxland Energy Cooperative announced today that it will idle production at its ethanol production facility in Sioux Center. The Board decided to halt production due to the Administration’s recent grant of small-refinery exemptions (SREs) to many large oil refineries, which has undermined the Renewable Fuel Standard and reduced ethanol demand by 4 billion gallons. Kelly Nieuwenhuis, President of the Board, said: “The Administration’s actions unfairly benefit the oil industry at the expense of our local farmers and, if not addressed soon, will impact the livelihoods of many. We look forward to the Administration properly addressing these issues, so that Siouxland Energy can resume ethanol production and its purchase of corn from local farmers, and generally contribute to the local and global economy.”

9/20/19 8:10am                      

Quiet markets overnight trading both sides of the fence.  Weather continues to be the main market concern but as we move forward it would look as though frost could have a tough time hurting lagging maturity.  Good export sales yesterday were much anticipated by the market. 

U.S. and Chinese deputy trade negotiators resumed face-to-face talks for the first time in almost two months yesterday, as both sides try to bridge deep policy differences and find a solution to end their ongoing trade war.  

In an unexpected twist, some members of the Chinese delegation will stay in the United States to visit U.S. farming regions next week being reported by some news services.  One would anticipate that their reasoning is to see if the American farmer still supports the President. 

President Trump discussed biofuels policy with senators from U.S. oil states, including Louisiana Senator Bill Cassidy, who said the president was engaged on the issue that has pitted Big Oil and Big Corn against each other.  "The president is ready to get a decision and move forward. We hope that could happen as of this afternoon," said Secretary of Agriculture, Sonny Perdue.

Cattle on Feed will be out this afternoon at 2:00 p.m. CDT.  The average guess for On Feed (as of September 1st) is 99.3% of last year.  Placements are expected at 93.7%, and Marketings at 98.3%.

Rains yesterday favored Iowa, N Illinois, and Wisc./Michigan. More rain expected this weekend. Areas of the southern US should continue harvest unimpeded by precipitation over this coming weekend.

Southern Brazil saw precipitation and are nearing adequate planting moisture. Northern Brazil precipitation forecast turning more favorable
(wetter) but they are still considerably dry.