PRESS RELEASE - September 16, 2019

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.”

Edwards Market Thoughts

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.

 

 

 

 

 

Local Weather
Weather radar map

Sioux Center, Iowa (51250)

Current Conditions: Sunny
Temperature: 82°F Dew point: 66°F
Humidity: 58% Pressure: 29.77 in. Hg
Wind: 8 mph From: West

Forecast

Saturday
Weather condition
Hi: 80°
Lo: 52°
Sunday
Weather condition
Hi: 68°
Lo: 50°
Monday
Weather condition
Hi: 75°
Lo: 58°
Tuesday
Weather condition
Hi: 78°
Lo: 57°
Wednesday
Weather condition
Hi: 69°
Lo: 47°

Zip Code:

© 2019 Freese-Notis Weather

Siouxland Cash Bids
Name Delivery End Basis Cash Price Futures Price

View all cash prices...
Quotes retrieved on September 21, 2019, 04:56:40 PM CDT
All grain prices are subject to change at any time.
Cash bids are based on 10-minute delayed futures prices, unless otherwise noted.
Let our Senators and Congressmen know!

Growth Energy has provided us an easy link to let our Senators and Congressmen know how the misuse of the SREs have affected the Renewable Fuels Industry. As members and employees we need your help to make sure our message is heard!

PLEASE take a moment to use this tool to express your concern. A form letter will populate after you put in your contact info and you will have the chance to add anything additional you feel would help highlight the damage being done by SREs and urge them to support the RFS Integrity Act of 2019. Here is the link - https://p2a.co/7VmlFP2

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Commentary
Corn Closes Lower on Friday -

Corn futures saw 2 to 3 cent losses in the front months on Friday, with some pressure from losses in soybeans. December was still 2 cents higher for

Hogs Close Lower on Friday -

Lean Hog futures closed 32.5 cents to $1.70 lower on Friday, with Oct down 9.21% this week. Weakness came on news that the Chinese delegation will

Cotton Close Marginally Mixed on Friday -

Cotton futures closed 3 to 24 points higher on Friday, with deferred contracts lower. Dec was down 2.75% on the week. Commitment of Traders data

Wheat Mixed at Fridays Close -

Wheat futures closed Friday with winter wheat contracts 2 to 4 cents lower, as MPLS was up 2 to 4 cents. Commitment of Traders data showed spec

Soybeans Post Losses on Chinese Farm Visit Cancellation -

Soybeans futures posted 9 to 10 1/4 cent losses in the front months on Friday. On the week, Nov was down 1.78%. Soybean meal was down $1.10/ton,

Cattle Close Mostly Lower on Friday -

Live cattle futures were down 22.5 to 67.5 cents on Friday. October was up 1.30% from last Friday. Feeder cattle futures were higher in the front

Full commentary...


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