Tuesday May 2 Ag News

Governor Pillen Proclaims May as Renewable Fuels Month in Nebraska

Governor Jim Pillen has once again demonstrated his commitment to sustainable energy by designating the month of May as Renewable Fuels Month in Nebraska. This proclamation, made during a ceremony at the State Capitol today, underscores the pivotal role that renewable fuels play in the state's economy, environment and energy security.

Renewable fuels are locally produced, reducing the need for imported energy while keeping investment in Nebraska. They also provide farmers an extra income source by adding value to their crops and aiding rural economic growth. The benefits extend from there, as according to the U.S. Department of Agriculture, ethanol blends reduce greenhouse gas emissions by 43% compared to regular gasoline while biodiesel can reduce greenhouse gas emissions by more than 70% on average compared to petroleum-based diesel fuel.

“Renewable fuels like ethanol, biodiesel, renewable diesel and sustainable aviation fuel represent the best of our state,” said Tony Leiding, President of Trenton Agri Products and Renewable Fuels Nebraska. “Nebraskans are finding new and exciting ways to meet demand while reducing the impact on the environment with products grown right here at home.”

By designating May as Renewable Fuels Month, Governor Pillen underscores Nebraska's commitment to renewable fuels and its ongoing efforts to promote a more sustainable future for generations to come. At today’s proclamation ceremony, the governor was joined by representatives from Renewable Fuels Nebraska, the Nebraska Soybean, Corn and Ethanol Boards alongside their respective grower associations.

These groups invite you to celebrate Renewable Fuels Month by choosing renewable fuels at the pump. Find ethanol retail locations at fueledbynebraska.com and biodiesel locations at biodieselNE.com.



Report Shows Third Consecutive Year for Record-Setting Exports, Outlook Not as Promising for Agricultural Trade

Nebraska Farm Bureau has published its annual Agricultural and International Trade Report again highlighting the importance of international trade to the bottom-line of Nebraska’s farm and ranch families. The report release comes shortly after a House Ways and Means Committee hearing centered on trade, emphasizing the importance of a proactive strategy in expanding markets for American agriculture to the Biden administration. The report, “Nebraska Agriculture and International Trade,” is the latest in a series of analysis highlighting the importance of agricultural trade to Nebraska farmers, ranchers, rural communities, as well as the state’s broader economy.

“Our analysis shows that trade is vitally important to the economic future of Nebraska’s farm and ranch families. Unfortunately, the Biden administration has not effectively pushed for increased market opportunities for farmers and ranchers while also struggling to consistently enforce provisions of trade deals that enable farmers to sell their products overseas,” said Nebraska Farm Bureau President Mark McHargue.

Expanding markets, both within the country and overseas, for agricultural products from Nebraska is a top priority for Nebraska Farm Bureau. NEFB plays an active role in trade missions with the governor, while McHargue leads the American Farm Bureau Trade Subcommittee, showcasing a firm dedication to improving export prospects.

“Nebraska farmers and ranchers depend on export markets for nearly a third of their agricultural production. Which is why this issue is a primary focus for NEFB and why we urge the Biden administration and Congress to continue discussions with our key export partners and those with potential for growth. It is crucial to consider how trade initiatives can best enhance agricultural exports for our state and our nation,” said McHargue.

The report, issued annually since 2017, acts as a barometer demonstrating the importance of trade to farmers, ranchers, and Nebraska’s economy. The estimates are calculated using the 2022 USDA trade numbers released in October 2023.

International trade has been a big win for Nebraska farmers and ranchers, with agricultural exports making up about 30 percent of their earnings. The “Nebraska Agriculture and International Trade” report provides a comprehensive look at Nebraska agricultural trade, showing how different commodities impact the economy and benefit farmers, ranchers, and counties across the state.

“Nebraska was once again the fifth-largest agricultural exporting state in 2022 with exported agricultural commodities worth $9.97 billion, marking the third consecutive year of record-setting exports,” said Jay Rempe, economist of Rolling Prairie Economics and author of the report.

According to the report, soybeans, corn, and beef remained solidly entrenched as Nebraska’s top agricultural exports, accounting for nearly two-thirds of total exports. Soybeans were the top export commodity, up 23 percent from the prior year. The USDA attributed that growth to increased prices and a strong demand in most top export markets.

“Nebraska is the fifth-largest exporter of soybeans at $2.3 billion. In 2022, China was the largest soybean purchaser, but growth was also seen from Mexico, the European Union, Egypt, and Japan. Exports are a growing part of Nebraska’s agricultural sales—exports in 2022 were four times greater than those in 2000,” said Rempe.

The report shows Nebraska leads the nation in exports of beef at $1.86 billion. The value of Nebraska beef exports rose 13%, setting a record. The report also shows Nebraska’s corn exports were off 4%, but still finishing as the second highest on record at $2.25 billion placing Nebraska as the nation’s third-largest exporter of corn.

“Like soybeans, China was the largest buyer of corn, followed by Mexico and Japan. Exports to these three countries accounted for 71% of total United States corn exports, while South Korea, Japan, and China accounted for 62% of United States beef exports,” said Rempe.

According to Nebraska Farm Bureau, much of Nebraska’s agricultural trade success can be tied to free trade agreements. While 2022 numbers show record-setting amounts, initial figures for 2023 are not as promising: highlighting the effects of inaction by the Biden administration to pursue an ambitious trade agenda that benefits Nebraska’s farm and ranch families as well as Nebraska’s economy as a whole.

“Mexico’s ban on genetically modified white corn, the lack of work by the Biden Administration to pursue new free trade agreements, along with the failure to enforce China’s obligations to increase purchases under the previously signed Phase 1 trade pact all act as headwinds to our efforts to grow international export markets. Failure to move forward with much of a trade agenda at all has put Nebraska’s farmers and ranchers at a disadvantage on the world stage, resulting in a projected agriculture trade deficit of $21.5 billion in 2023,” said McHargue. “Expanding international markets is vital to Nebraska’s farm and ranch families economically, while also helping them provide food, fiber, and energy to families around the globe.”

Nebraska Farm Bureau expects the value of trade in 2023 for Nebraska and counties will be down compared to the 2022 figures outlined in this report. Nebraska Farm Bureau’s “Nebraska Agriculture and International Trade” report is available online at www.nefb.org.



Soybean Gall Midge Update: May 1st, 2024

2024 SGM Research Webinar Recording Link
The webinar from the 2024 Regional Soybean Gall Midge Research Update is now available online. You can access it at www.soybeangallmidge.org or https://extension.umn.edu/courses-and-events/midwest-soybean-gall-midge-research-update.

Survey on Opinion of Emerging Pests in Soybean
Dr. Doug Golick, an Associate Professor from the University of Nebraska-Lincoln, is conducting a research study on the opinions of soybean producers and professionals who work with producers on emerging soybean pests. As a subscriber of the soybean gall midge alert network website, Doug would like to inform you that a link to this survey is available for you to provide your opinions on emerging soybean pests in Nebraska. Participation in this survey will take about 15 minutes to complete. If you are interested in participating in this study, follow the link to the survey here https://go.unl.edu/soybeanpestsurvey2024 . There are no known risks involved in this research.

If you have any questions regarding this research, please let Doug know. You can reach him at dgolick2@unl.edu. For questions concerning your rights or concerns about the research, please contact the UNL Institutional Review Board (IRB) at 402-472-6965 or irb@unl.edu.

2024 SGM Cage Network
We will start tracking soybean gall midge adult emergence from overwintering sites (last year's soybean) in early to mid-May in Nebraska, Iowa, South Dakota, and Minnesota. You can keep up to date on the emergence of adults through the soybeangallmidge.org website. Based on the previous year's data, we don't expect to see any adult activity until late May or early June.



Fischer Slams Administration’s Incentive For Foreign Biofuels, Hindering American Grown Energy

At an Appropriations Committee Hearing today, U.S. Senator Deb Fischer (R-Neb.) questioned Environmental Protection Agency (EPA) Administrator Michael Regan about the negative impacts of the administration’s newly-released GREET model and the Clean Power Rule.

During her remarks, Senator Fischer criticized the updated GREET model’s support for foreign grown feedstocks for biofuel production, like Brazilian sugarcane ethanol, while ignoring the sustainable, home-grown biofuels produced in the United States. Senator Fischer pressed Secretary Regan about ensuring that the updated model does not put Nebraska’s corn and soybean farmers or biofuel producers at a disadvantage from accessing this market.

Senator Fischer also highlighted stakeholder concerns with the EPA’s new power plant regulations and asked Secretary Regan how the administration came to its proposed regulation given the lack of stakeholder support. Senator Fischer stated that Nebraska stakeholders have expressed concern that EPA's rule jeopardizes affordability and reliability by foreseeing the premature closure of coal powered plants.



Congressman Flood: Biden Needs to Cut Sustainable Aviation Fuel Red Tape

Today, U.S. Congressman Mike Flood issued a statement following President Joe Biden’s Department of Treasury releasing guidance on the Sustainable Aviation Fuel Tax Credit.

“America’s farmers don’t need the federal government to come in and dictate which practices are and are not acceptable – especially at a time when they are grappling with inflation fueled by President Biden’s policies. I will continue to advocate for greater flexibly that fully recognizes the role Nebraska’s producers play in the future of transportation fuels and for an all-of-the-above energy policy that puts our farmers first.”

“Here in Congress, I am proud to champion bipartisan legislation that promotes agricultural innovation and the expansion of sustainable aviation fuel. I am pleased to see the federal government finally recognize the benefits of cutting-edge agriculture, but more must be done to cut red tape and foster continued innovation as our farmers and ranchers work tirelessly to feed and fuel a growing world.”



Secretary Naig Comments on Final Guidance Incorporating Updated GREET Model for Sustainable Aviation Fuel Credit

Following yesterday’s release of guidance by the U.S. Department of Treasury and Internal Revenue Service on the 40B Sustainable Aviation Fuel (SAF) Credit, which incorporates an updated version of the GREET (Greenhouse gases, Regulated Emissions, Energy use in Technologies) model to measure the lifecycle emissions from SAF, Iowa Secretary of Agriculture Mike Naig provided the following comment:

“As the top producing state of lower cost and cleaner burning biofuels, sustainable aviation fuel is an emerging market with huge potential for Iowa agriculture.

Unfortunately, the Biden administration is once again telling Iowa farmers that Washington D.C. knows best. The administration's proposal mandates rigid requirements that ignore the innovation of agriculture and fails to recognize farmers ability to incorporate the practices that work best for their individual operations. This administration has continually pursued a one-size-fits-all approach that puts domestic energy production, like homegrown ethanol, at a disadvantage to international competitors. Yesterday’s guidance is more of the same.

While inclusion of the GREET model is a welcome step, the details need to be right, and the administration has more work to do. I know Iowa’s Congressional delegation will be working to ensure that Iowa’s farmers and biofuel producers will be able to realize the full potential that SAF offers.”



Corn Growers Disappointed in GREET Model Update

An announcement this week by the U.S. Department of Treasury regarding the final guidance on eligibility for the Sustainable Aviation Fuel tax credits enacted in the Inflation Reduction Act was met with concern from leaders at the National Corn Growers Association (NCGA) who say they are now committed to ensuring that the updated guidelines for the credit are vastly improved.

NCGA raised specific issues with the changes Treasury made to the Department of Energy’s GREET model, which is used to measure greenhouse gas emissions and will be a crucial mechanism in determining who receives the tax credit.

Corn grower leaders said they are particularly troubled that the updated model requires farmers to bundle the use of no-till practices, enhanced efficiency fertilizers and cover crops for their grain to meet the standards now required to qualify for the tax credit.

“We are deeply disappointed that this updated model requires farmers to implement environmental practices that are not practical for all acres of the large and varied geographic region in which corn is grown,” said Minnesota farmer and NCGA President Harold Wolle. “This requirement in GREET will significantly hinder the chances corn growers have in accessing the sustainable aviation fuel market, even as higher blends of corn ethanol offer great promise in the country’s fight against greenhouse gas emissions and climate change.”

Wolle noted that cover crops can be difficult, if not impossible, to grow in dryer climates, making the bundling requirement extremely unreasonable. He also noted that growers should be able to implement their own environmental practices.

“As corn growers, we already understand the environmental practices that work best for our growing conditions and climate, so it is not necessary for the government to dictate specifically how we reach an emissions reduction goal,” Wolle said. “Farmers are going to have different methods depending on a variety of factors, including where their farms are located.”

The Inflation Reduction Act, passed in 2022, allocates tax credits for biofuels that can demonstrate that they cut greenhouse gas emissions by 50% or more. After the law was passed, Treasury and EPA were charged with choosing a model that would measure emissions throughout the life of biofuels.

NCGA has been at the forefront of this issue, making a case about how ethanol can help the aviation sector meet the nation’s environmental goals. But recent developments have made growers question the Biden administration’s commitment to using ethanol as a climate solution.

“President Biden has repeatedly said that biofuels will play an important role in the decarbonization of the transportation sector,” Wolle said. “Yet, this announcement and the recently finalized Multi-Pollutant Rule issued by the EPA have left corn growers across the country grasping for ideas on just how they will be able to contribute to this effort.”

Wolle said NCGA and corn growers across the country will increase their advocacy efforts to improve the changes Treasury made to the GREET model as the Biden administration focuses on the next phase of the Inflation Reduction Act for passenger vehicles, referred to as the 45Z tax credit. The 45Z tax credit will take effect at the beginning of 2025. As part of the law, the aviation tax credit will be folded into the 45Z tax credit beginning on January 1, 2025.

NCGA has been concerned about the delays with the release of the sustainable aviation fuel guidance because the regulatory uncertainty is beginning to impact fuel delivery contracts already being negotiated for January of next year.



NFU Statement on Treasury Guidance for Sustainable Aviation Fuel

The U.S. Treasury Department yesterday released long-awaited guidance updating the Greenhouse Gases, Regulated Emissions, and Energy Use in Technologies (GREET) model for sustainable aviation fuel (SAF) credits under Section 40B of the Inflation Reduction Act.

NFU President Rob Larew issued the following statement in response to the announcement:

"Family farmers have the potential to rapidly drive climate solutions with the production of sustainable aviation fuel from homegrown feedstocks. While we appreciate the administration modifying the GREET model and issuing guidance on the 40B tax credit, more work is needed to better recognize and credit certain climate-smart agriculture practices to reduce greenhouse gas emissions in SAF production.

As the administration works on the next set of guidance for Section 45Z, the Clean Fuels Tax Credit, a wider variety of climate-smart agriculture practices must be included to achieve our nation’s climate goals. It is vital that agricultural feedstocks continue to decarbonize fuels for vehicles and aviation."



IRFA Statement on 2024 U.S. House Farm Bill Title-By-Title Release

Today, the U.S. House Committee on Agriculture shared the title-by-title overview of its 2024 farm bill proposal. Full legislative text will be released at a later date. Iowa Renewable Fuels Association (IRFA) Executive Director Monte Shaw made the following statement:

“Seeing the title-by-title House farm bill release is cause for optimism. Ultimately, it’s the details that matter, but several IRFA priorities were mentioned. Expanding exports for biofuels and their coproducts will benefit from the call to ‘substantially increase funding for MAP/FMD’ [export promotion programs]. The document also ‘protects investments in higher blends infrastructure’ which have been vital to expanded consumer access to lower-cost blends of ethanol and biodiesel. With much work still to be done, we appreciate the Iowa delegation for their tireless efforts in advocating for biofuels and Iowa farmers day in and day out.”



Cattle Producers Support House Ag Committee Farm Bill Framework

Today, National Cattlemen’s Beef Association (NCBA) Vice President of Government Affairs Ethan Lane responded to the release of Farm Bill frameworks from the House and Senate Agriculture Committees:

“We are very pleased with the Farm Bill framework released by House Agriculture Committee Chairman Glenn ‘GT’ Thompson. Since 2023, Chairman Thompson has gone to great lengths to meet with America’s cattle producers in every region of the country and craft a Farm Bill that supports their unique needs. We are especially pleased by the Chairman’s focus on voluntary conservation programs that are increasingly popular with cattle producers, animal health provisions that protect the U.S. cattle herd, and investments in food security that support our broader national security.

“Unfortunately, the Senate Agriculture Committee majority has failed to engage in the same level of outreach to real cattle producers, and their framework reflects that lack of producer input. While there are some bipartisan elements to the Senate proposal, there are many provisions which would be harmful to livestock producers. We look forward to the House Agriculture Committee’s May Farm Bill markup and will continue engaging with members of the committees to advocate for the cattle industry.”



Farm Bureau Eager for Farm Bill to Progress

American Farm Bureau Federation President Zippy Duvall commented today on the House and Senate Agriculture committees releasing title-by-title overviews of the 2024 farm bill.

“AFBF appreciates the House and Senate Agriculture committees’ progress to enact a new, modernized farm bill this year. We’re encouraged to see both proposals acknowledge that programs farmers and ranchers across the country use require additional investment in the face of falling commodity prices and increased inflation. And both proposals recognize the important role farmers and ranchers play in protecting our land, water and air through voluntary, working lands conservation programs.

“Details are important, however, and there is still a lot of work to do. While there will inevitably be disagreements on specific provisions and funding levels of several programs, we encourage both chairs to hold a markup this month so that all members of the Agriculture committees can bring their ideas forward. We urge lawmakers on both sides of the aisle to work together in a bipartisan manner to find consensus and pass a farm bill before the extension expires this year.

“Farm Bureau stands ready to work with lawmakers in both chambers to provide insight and guidance on whether each proposal would – positively or negatively – impact the hard-working and resilient families who continue to put healthy, safe and affordable food on the table for everyone in this country and beyond.”



The 2024 Iowa’s Best Burger Announced

From cheese curds to chip dust, burgers as big as dinner plates to multiple patty burgers, fresh veggies to cheeses, and sauces to spreads, this year’s Top 10 Iowa’s Best Burger restaurants had it all! However, only one can claim the title of Iowa’s Best Burger in 2024 and this year’s winner goes to JJ’s Tavern + Grill in Ankeny, Iowa.

Owners Rick and Lilia Romero and Michael Roberts, also the general manager, and Liberty Van Genderen, say JJ’s Tavern + Grill is about family. They have worked diligently to build this for their employees, but also want their customers to recognize the family vibe. Michael even went as far as to say they’d like it to have the television show Cheers, “everyone knows your name” feel.

The intimate atmosphere and upscale smaller space naturally lend themselves to that feel. When you go, expect to talk with Rick and hear about the inspiration for the restaurant’s name. You might get a hug from Lilia. And, Michael will be there making food recommendations along the way. Lilia said that it is rare to see owners participating in the business every day and they are trying to prioritize that at JJ’s.

JJ’s Tavern + Grill offers a wide selection of elevated bar food offerings. As Liberty described, there is something for everyone’s palate. The Best Burger Contest’s timing is intentional and celebrates the kickoff of Iowa’s May Beef Month. JJ’s has several beef options, but today it is all about the burgers! The menu currently features eight smash burger selections. All look delicious, but Rick and Michael highlighted the JJ’s Smash Burger, the Brock Curdy Burger, and the Jalapeno Cheddar. Each smash burger can be a single patty or double, but for that robust beef taste, we recommend a double!

JJ’s Smash Burger is a classic, with tavern sauce, gooey American cheese, and notably fresh lettuce, tomato, red onion, and pickle. Rick said their smaller venue promotes their freshness standards because they have limited storage so they get regular food deliveries. Yes, the Brock Curdy Burger is named for San Francisco 49ers quarterback and former Iowa State player, Brock Purdy. This burger is loaded! On the patties, there is BBQ sauce, ranch, American cheese, cheese curds, pulled pork, and bacon. Michael said the third burger they would highlight is the Jalapeno Cheddar Burger which gives a little spice and has been quite popular. This burger is topped with tavern sauce, cheddar, bacon, and of course, jalapenos.

To pair with your burger, you’ll find a unique offering of sides from hot honey Brussels sprouts to edamame, traditional fries to mouth-watering cheese curds, and more. They also have an array of fun cocktails and scrumptious desserts. Michael talked about the creativity of the menu and said it is a partnership. They work closely with their distributor, Matthew Hanscom who is also a chef, listen to their customers, find inspiration from other restaurants, and allow their team to try and create new recipes.

“To me, a lot of restaurants are the same, just with a different name,” said Michael. “One of our goals with JJ’s was to be totally different. We wanted to focus on the quality of food, the atmosphere, and customer service at a reasonable price point."

The competition and being named as a Top 10 contestant in Iowa’s Best Burger competition has already had a significant impact on their business. Since being named a Top 10 contestant on March 12, they went from selling 13 burgers a day to over 36 burgers a day.

JJ’s recently opened in late November 2023. They have recently added a patio for an outdoor dining experience and additional seating. Rick shared that thanks to the contest they may consider moving up plans for a second location.

“We’ve always talked about a second location,” said Rick. “This might be our dream spot, but we like the concept of a second spot and our name is out there now. We have great customers and they have really supported us.”

This was the 15th year for the annual Iowa’s Best Burger Contest and had the added excitement of allowing previous winners the chance to be nominated again. We had three previous winners in the list of Top 10 contestants. The Best Burger Contest is sponsored by the Iowa Beef Industry Council and the Iowa Cattlemen’s Association to showcase the valued partnership between Iowa’s cattlemen and food service providers through delicious burgers crafted by Iowa’s talented chefs and restaurateurs.

Michael shared that being a part of this contest and being selected as the winner was like the Michelin star for restaurants. He said that getting into the Top 10 had been his vision from day one.

“As I sat down with Rick, I said we have got to get into the burger contest,” said Michael. “You know, if you get into the Top 10 it is going to change your world. If you win, it’s going to change it even more. To me, I think it is the biggest competition in Iowa.”

“We’re now sealed with some of the great restaurants in Iowa,” said Rick. “So for the next five to 20 years, our name is going to have the star next to it. I’ve said for a long time, that there hasn’t been an award-winning burger in Ankeny, well now there is.”

About JJ’s Tavern + Grill
(1975 N. Ankeny Boulevard, Ankeny, Iowa 50023)
Hours:  Sunday through Thursday – 11 a.m. to 8 p.m.; Friday & Saturday – 11 a.m. to 9 p.m.
Website: www.jjstavernandgrill.com

As mentioned, the venue is smaller and more intimate. The Iowa Beef Industry Council and Iowa Cattlemen’s Association kindly ask new and existing customers to be patient and courteous to restaurant staff. Former contest winners have reported an influx of sales well after Iowa’s Best Burger announcement was made. We hope you will understand the potentially longer wait times. One recommendation to reduce wait times is for large parties to break into smaller groups. Regardless, it will be worth the wait!

Please direct all media inquiries for JJ’s Tavern and Grill to Michael Roberts at jjstavernandgrill@gmail.com or 515.230.3822.



Iowa Farm Environmental Leader Award Nomination Deadline Extended

The deadline to nominate Iowa farmers and Iowa farm families for the Iowa Farm Environmental Leader Award has been extended from Monday, May 6 to Monday, May 20.

Iowa farmers and landowners who implement proven practices to improve water quality and incorporate farming practices that conserve and protect our natural resources are eligible for the award. Awardees must also actively serve as leaders within the Iowa agriculture community. Since the creation of the award in 2012, 777 farm families have been recognized.

The nomination form can be found on the Iowa Department of Agriculture and Land Stewardship’s website. An appointed committee representing conservation and agricultural groups will review the nominations and select the winners. To be considered for recognition in 2024, nominations will be accepted through Monday, May 20.

The recipients of the award will be honored during a ceremony on Wednesday, August 14, 2024, at the Iowa State Fair. Governor Kim Reynolds, Lieutenant Governor Adam Gregg, Secretary of Agriculture Mike Naig and Department of Natural Resources Director Kayla Lyon will present each awardee with an Iowa Farm Environmental Leader Award sign and certificate.



Most Fertilizer Prices Continue to Rise

Retail fertilizer prices tracked by DTN for the fourth week of April 2024 continued to be slightly higher. Seven of the eight major fertilizers are higher in price compared to a month. Despite the increases, no fertilizer was up a considerable amount. DTN designates a significant move as anything 5% or more.

Seven fertilizers were slightly more expensive compared to last month. DAP had an average price of $781/ton, MAP $830/ton, urea $585/ton, 10-34-0 $641/ton, anhydrous $794/ton, UAN28 $364/ton and UAN32 $418/ton.

One fertilizer was slightly lower in price looking back a month. Potash was down just slightly and had an average price of $513/ton.

On a price per pound of nitrogen basis, the average urea price was at $0.64/lb.N, anhydrous $0.48/lb.N, UAN28 $0.65/lb.N and UAN32 $0.65/lb.N.

Most fertilizers are lower compared to one year ago, but one fertilizer is slightly higher. MAP is 3% higher looking back a year. The remaining fertilizers are lower. Urea is 2% less expensive, DAP is 6% lower, 10-34-0 13% less expensive, UAN28 is 14% lower, anhydrous is 15% less expensive and both potash and UAN32 are now 18% lower compared to a year prior.



Weekly Ethanol Production for 4/26/2024

According to EIA data analyzed by the Renewable Fuels Association for the week ending April 26, ethanol production rebounded, up 3.5% to 987,000 b/d, equivalent to 41.45 million gallons daily. Output was 1.1% more than the same week last year and 8.9% above the five-year average for the week. However, the four-week average ethanol production rate decreased 2.2% to 995,000 b/d, which is equivalent to an annualized rate of 15.30 billion gallons (bg).

Ethanol stocks slipped 1.0% to a 12-week low of 25.5 million barrels. Still, stocks were 9.1% more than the same week last year and 10.1% above the five-year average. Inventories thinned across all regions except the Midwest (PADD 2) and Rocky Mountains (PADD 4).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, improved 2.3% to 8.62 million b/d (132.48 bg annualized). Demand was equal to a year ago and 0.5% above the five-year average.

Refiner/blender net inputs of ethanol climbed 1.3% to a 28-week high of 911,000 b/d, equivalent to 14.00 bg annualized. Net inputs were consistent with year-ago levels and 8.3% above the five-year average.

Ethanol exports were estimated at 78,000 b/d (3.3 million gallons/day), or 41.8% below the prior week. There were zero imports of ethanol recorded for the 32nd consecutive week.



Grain Crushings and Co-Products Production

Total corn consumed for alcohol and other uses was 522 million bushels in March 2024. Total corn consumption was up 5 percent from February 2024 and up 7 percent from March 2023. March 2024 usage included 92.3 percent for alcohol and 7.7 percent for other purposes. Corn consumed for beverage alcohol totaled 4.30 million bushels, down 5 percent from February 2024 and down 25 percent from March 2023. Corn for fuel alcohol, at 469 million bushels, was up 5 percent from February 2024 and up 7 percent from March 2023. Corn consumed in March 2024 for dry milling fuel production and wet milling fuel production was 92.2 percent and 7.8 percent, respectively.

Dry mill co-product production of distillers dried grains with solubles (DDGS) was 1.93 million tons during March 2024, up 7 percent from February 2024 and up 13 percent from March 2023. Distillers wet grains (DWG) 65 percent or more moisture was 1.22 million tons in March 2024, up 4 percent from February 2024 but down 6 percent from March 2023.

Wet mill corn gluten feed production was 270,230 tons during March 2024, up 6 percent from February 2024 but down 8 percent from March 2023. Wet corn gluten feed 40 to 60 percent moisture was 214,038 tons in March 2024, up 3 percent from February 2024 and up 14 percent from March 2023.

Fats and Oils: Oilseed Crushings, Production, Consumption and Stocks
Soybeans crushed for crude oil was 6.11 million tons (204 million bushels) in March 2024, compared with 5.82 million tons (194 million bushels) in February 2024 and 5.94 million tons (198 million bushels) in March 2023. Crude oil produced was 2.41 billion pounds, up 5 percent from February 2024 and up 3 percent from March 2023. Soybean once refined oil production at 1.79 billion pounds during March 2024 increased 10 percent from February 2024 but decreased 1 percent from March 2023.

Flour Milling Products
All wheat ground for flour during the first quarter 2024 was 227 million bushels, down less than 1 percent from the fourth quarter 2023 grind of 227 million bushels but up 1 percent from the first quarter 2023 grind of 225 million bushels. First quarter 2024 total flour production was 106 million hundredweight, up less than 1 percent from the fourth quarter 2023 and up 1 percent from the first quarter 2023. Whole wheat flour production, at 4.69 million hundredweight during the first quarter 2024, accounted for 4 percent of the total flour production. Millfeed production from wheat in the first quarter 2024 was 1.61 million tons. The daily 24-hour milling capacity of wheat flour during the first quarter 2024 was 1.61 million hundredweight.