Overview of the US Biodiesel Industry and Summary
|
|
- Lesley Short
- 7 years ago
- Views:
Transcription
1 Overview of the US Biodiesel Industry and Summary By John Kruse, PhD Principal and Directory of Quantitative Analysis October 26, 2015
2 WAEES Scenario Analyses (2015) Scenario Analysis 1. RFS 2 Policy - Volume Obligations - Biodiesel - Ethanol - Advanced - Tax credits - Ethanol blend wall issues 5. Biofuels Feed Stocks - Supply Availability - Yield growth - shocks - New sources - Market changes - Technology 8. Trait & Technology Analysis - Valuation of GE crops - Impacts of labeling GE foods - Impact of new trait introduction WAEES Global Partial Equilibrium Modeling System 2. International Policy - Argentina Policy - Brazil Policy - EU-28 Biofuels Policy 6. International supply shocks - Ukraine disturbance - South America yields - US yields 3. Biofuels Technology - Feedstock Conversion - Renewable Diesel 4. Crude oil prices 7. International demand shocks - China feed demand - Africa meat & feed consumption - Calorie consumption Over 20,000 equations WAEES has run over 50 biofuels specific scenarios in 2015 as of the end of September
3 Commodity Coverage Corn Cattle Sorghum Barley Wheat Rice Cotton Soybeans & Derivatives Sunflowers & Derivatives Hogs Beef Pork Broilers Dairy & Dairy Products (Quasi Trend Model) Rapeseed & Derivatives Palm Oil Sugarcane, Sugar Beets, & Sugar Biodiesel Ethanol
4 Concept Coverage Supply Components Crops: Area, Yield,, Imports, Beginning Stocks Livestock: Breeding Herd, Market Animals, Calf Crop, Pig Crop, Slaughter Weight,, Imports, Beginning Stocks Biofuels & RINs: Capacity, Capacity Utilization,, Imports, Beginning Stocks Demand Components Crops: Food, Feed, Industrial, Exports, Ending Stocks Livestock: Slaughter, Death Loss, Food Use, Exports, Ending Stocks Biofuels & RINs: Consumption, Exports, Ending Stocks Commodity s (except dairy) Regional Crop Costs of for the United States, Brazil, Argentina, China, and India Assumptions used regarding Real GDP Growth, Population, Inflation, Exchange Rates, Crude Oil s, and Policy.
5 Geographic Coverage of the WAEES Agricultural & Biofuels Partial Equilibrium Models (USDA Regions) North America US Canada Mexico Central America & the Caribbean South America Argentina Bolivia Brazil Chile Paraguay Uruguay Other South America The European Union (28 countries) Area, yield, production individual countries Other Europe Former Soviet Union Russia Ukraine Uzbekistan Other Former Soviet Union North Africa Egypt Other North Africa Sub-Saharan Africa Kenya Nigeria South Africa Other Sub-Saharan Africa Middle East Iran Saudi Arabia Turkey Other Middle East East Asia China Japan South Korea Taiwan Other East Asia South Asia Bangladesh India Pakistan Other South Asia Southeast Asia Indonesia Malaysia Myanmar Philippines Thailand Vietnam Other Southeast Asia Oceania Australia Other Oceania
6 Partial Equilibrium Modeling System (Conceptual Framework Representation for One Country) Per Capita Income & Distribution Population Age Distribution & Health Concerns Cultural Tastes & Preferences Inflation Exchange Rates Biofuels Demand Other Crop Demand Crop Food Demand Crop Feed Demand Meat Food Demand Conditioning Assumptions Crop Supply & Demand Crop s Meat s Livestock Supply & Demand Area Harvested Yield Government Policy Market Animals Breeding Herd Crop Cost of Technology Livestock Cost of Fuel Fertilizer Chemical Machinery Seed Land Transport Labor Interest Veterinary Feed
7 Data Sources Macroeconomic Real GDP, Inflation: IMF through 2019, WAEES thereafter Population: United Nations Exchange Rates: WAEES model based on IMF forecast of real GDP, inflation, and other factors Crude oil and other energy prices: U.S. Department of Energy, Energy Information Administration (EIA) Ag Commodity Supply & Demand USDA PS&D Database, ERS, & NASS (90%) FAO Database Eurostat (EU-28 by country supply data) USDA Gain Reports Country Ministries of Ag Policies & Tariffs USDA FSA & USDA GAIN Reports Country Ministries of Agriculture WTO OECD European Commission Ag Commodity s Biofuels USDA ERS & NASS Eurostat Various spot markets The Jacobsen US Supply & Demand: EIA, EPA EMTS Data, and ERS-FATUS US s: USDA AMS, Nebraska Government Website, The Jacobsen Int l Supply & Demand: USDA Gain Reports, European Biodiesel Board, European Commission, Argentine Institute of National Statistics and Census(INDEC), Int l s: Argentine Secretary of Energy, Center for Advanced Studies on Applied Economics (CEPEA- Brazil), USDA Gain Reports, The Jacobsen
8 US Biofuels RIN Models Carryover RIN stocks Domestic D4 RIN Imported D4 RIN Domestic D3 RIN Imported D3 RIN D4 RINs Demoted to D5 RINs D4 RIN D4 RIN Volume Obligation D4 RIN Carryover Stocks D3 RIN D3 RIN Volume Obligation Adv Sorghum Ethanol Renewable Diesel Biogas Naptha Heating Oil Compressed Gas Dom Sugarcane Ethanol Butanol Imported Sugarcane Ethanol Renewable Diesel Demoted D4 RINs Supplied Domestic D5 RIN Imported D5 RIN Carryover RIN stocks D5 RINs Demoted to D6 RINs D5 RIN D5 RIN Carryover Stocks D5 RIN Volume Obligation Corn Ethanol Renewable Diesel Biodiesel Renewable Diesel Butanol Demoted D5 RINs Supplied Carryover RIN stocks Domestic D6 RIN Imported D6 RIN D6 RIN D6 RIN Ending Stocks D6 RIN Volume Obligation
9 US Biofuels Partial Equilibrium Models For Ethanol & Biodiesel Corn Ethanol Biodiesel Ethanol DDG DDG Corn Oil Capacity Processing Margin Capacity Utilization Corn Other Costs Brazil Ethanol Demand World Sugar Brazil Ethanol Supply Biodiesel Glycerin Processing Margins Capacity Capacity Utilization Feed Stock s Technology Corn Oil Ethanol Distillers Grains Brazil Ethanol Biodiesel Glycerin Beginning Stocks Total Supply Imports Sorghum Ethanol Advanced RIN Beginning Stocks Total Supply Imports Ethanol Biodiesel Market Conventional Mandate Conventional RIN Biodiesel RIN Biodiesel Mandate Market Ending Stocks Low Blend Use High Blend Use Exports Cellulosic RIN Ending Stocks Fuel Use Exports Unleaded Gasoline Crude Oil #2 Diesel
10 US Biofuel Feedstock Sources Butanol Soybean Oil Canola Oil Biodiesel Corn Sugarcane Ethanol DDG Corn Oil Inedible Tallow Sorghum Cellulosic Biomass White Grease Brown Grease Renewable Diesel Naptha Poultry Fat Yellow Grease Boxes with a dashed outline are included in the WAEES biofuels model as assumptions. Heating Oil Palm Oil Landfill Waste Management Biogas Animal Waste Management Compressed Gas
11 Yellow Grease Market Structure Frying Oil Use High FFA Animal Fats Dashed lines indicate that data is not specifically reported Yellow Grease Beginning Stocks Yellow Grease Yellow Grease Imports Yellow Grease Supply Yellow Grease Yellow Grease Ending Stocks Yellow Grease Feed Use Yellow Grease Methyl Ester Use Yellow Grease Exports
12 Hog Fat Market Structure Hog Slaughter Beginning Stocks Lard (Edible Hog Fat) Imports White Grease Beginning Stocks White Grease (Inedible Hog Fat) White Grease Imports Lard Supply White Grease Supply Lard White Grease Ending Stocks Food Use Inedible Use Exports White Grease Ending Stocks White Grease Feed Use White Grease Methyl Ester Use White Grease Oleo Chemical Use White Grease Exports Other Industrial Use Methyl Ester Use Dashed lines indicate that data is not specifically reported. Data availability has not been updated to reflect new USDA Fat and Oils: Oilseed Crushings,, Consumption, and Stocks report
13 SCENARIO ANALYSIS
14 RFS Volume Obligation Assumptions Baseline and Scenarios Calendar Year billion gallons Baseline - EPA Proposed Rule (May 2015) Overall RFS Conventional Gap (Implied Ethanol) Advanced Biodiesel Cellulosic Advanced Gap California CARB (sugarcane ethanol)* NBB: Minimum Biodiesel Volume Obligations Overall RFS Conventional Gap (Implied Ethanol) Advanced Biodiesel Cellulosic Advanced Gap California CARB (sugarcane ethanol) The $1 blenders credit is not assumed to continue beyond 2014 in both the baseline and NBB scenario. * WAEES Assumption, not specified by EPA
15 Nominal Dollars Per Barrel Crude Oil West Texas Intermediate US DOE-EIA April 14, 2015 Energy Outlook US DOE-EIA May 2014 Energy Outlook
16 Bushels Per Acre US Soybean Yields NBB vs USDA, Feb 2011 Projections NBB Forecast USDA Forecast Actual
17 Billion Bushels Million Acres US Soybean and Harvested Area USDA * NBB USDA Harvested Area* NBB Harvested Area * USDA estimates based on June 2015 WASDE for 2015, and the 2015 USDA Baseline thereafter.
18 Percent Pounds of oil per bushel Extraction of corn oil from DDG s 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Share of DDG's with corn oil extracted Corn oil extraction rate from DDG's
19 Million Pounds DDG Corn Oil (Oct/Sep MY) (NBB Forecast vs Actual) Actual* NBB Projected** * Actual numbers based on USDA s Grain Crushings and Co-Products reports, monthly data for 11 months adjusted to annual. ** NBB projections as of July 2015.
20 Billion Pounds DDG Corn Oil and Use Minimum Scenario Marketing Year /11 11/12 12/13 13/14 14/15 15/16 16/17 17/18 18/19 Biodiesel Use Feed Use DDG corn oil production
21 SCENARIO RESULTS
22 Million Gallons US Biodiesel & Imports Minimum Scenario Calendar Year 3,000 2,500 2,000 1,500 1, Methyl Ester Methyl Ester Imports Renewable Diesel Renewable Diesel Imports
23 Million Gallons US Methyl Ester By Feedstock Source Minimum Scenario Oct/Sep Marketing Year 1,800 1,600 1,400 1,200 1, /14 14/15 15/16 16/17 Soybean Oil Corn Oil Canola Oil Inedible Tallow White Grease Yellow Grease Brown Grease Poultry Fat Other
24 Dollars Per Gallon Biodiesel Plant s Minimum Scenario Calendar Year
25 Dollars Per Gallon RIN s Minimum Scenario Oct/Sep Marketing Year /11 11/12 12/13 13/14 14/15 15/16 16/17 Biodiesel Advanced Conventional
26 Cents Per Pound Soybean Oil Minimum Scenario Oct/Sep Marketing Year /11 11/12 12/13 13/14 14/15 15/16 16/17
27 09/10 10/11 11/12 12/13 13/14 14/15 15/16 16/17 Dollars Per Gallon Biodiesel Returns and Variable Costs Minimum Scenario Oct/Sep Marketing Year Biodiesel Variable Costs (Soy Oil) Glycerin Variable Costs (Weighted Average Feedstocks)
28 Billion Dollars US Farm Program Payments (ARC & PLC) Baseline: EPA Proposed SC 1: Minimum D4 VO
29 Billion Dollars US Farm Program Payments (ARC & PLC) Baseline: EPA Proposed SC 1: Minimum D4 VO SC 2: Realistic D4 VO
30 Thank You! John Kruse, PhD Principal & Director of Quantitative Analysis, WAEES
Soybean Supply and Demand Forecast
Soybean Supply and Demand Forecast U.S. soybean planted acreage is expected to increase 11.5 million acres over the forecast period. U.S. soybean yields are expected to increase 7 bushels per acre or an
More informationSupply & demand outlook for the canola industry
Supply & demand outlook for the canola industry J.P. Gervais Chief Ag Economist March 2015 @jpgervais Canola Canola is one component of the environment for oil producing crops Growth in demand has supported
More informationUSDA Agricultural Projections to 2025
United States Department of Agriculture Office of the Chief Economist World Agricultural Outlook Board Long-term Projections Report OCE-2016-1 February 2016 USDA Agricultural Projections to 2025 Interagency
More informationKey global markets and suppliers impacting U.S. grain exports BRICs
Key global markets and suppliers impacting U.S. grain exports BRICs Levin Flake Senior Agricultural Economist, Global Policy Analysis Division, OGA/FAS/USDA TEGMA Annual Meeting January 23 rd, 2015 U.S.
More information298,320 3,041 107,825. Missouri Economic Research Brief FARM AND AGRIBUSINESS. Employment. Number of Agribusinesses.
Missouri Economic Research Brief FARM AND AGRIBUSINESS Missouri s Farm and Agribusiness Missouri s farm and agribusiness sectors include crops, livestock, industries supporting farm production and farm-related
More informationGrains and Oilseeds Outlook
United States Department of Agriculture Grains and Oilseeds Outlook Friday, February 20, 2015 www.usda.gov/oce/forum Agricultural Outlook Forum 2015 Released: Friday, February 20, 2015 GRAINS AND OILSEEDS
More informationU.S. Agriculture and International Trade
Curriculum Guide I. Goals and Objectives A. Understand the importance of exports and imports to agriculture and how risk management is affected. B. Understand factors causing exports to change. C. Understand
More informationGrains and Oilseeds Outlook
United States Department of Agriculture Grains and Oilseeds Outlook Friday, February 26, 2016 www.usda.gov/oce/forum Agricultural Outlook Forum 2016 Released: Friday, February 26, 2016 GRAINS AND OILSEEDS
More informationBIOFUELS. Market situation. Projection highlights
3. COMMODITY SNAPSHOTS BIOFUELS Market situation Cereals, oilseeds and vegetable oil prices in 2014 continued their decrease in nominal terms. This, coupled with the strong decline in crude oil prices
More informationMissouri Soybean Economic Impact Report
Missouri Soybean Economic Report State Analysis March 2014 The following soybean economic impact values were estimated by Value Ag, LLC, as part of a Missouri Soybean Merchandising Council funded project.
More informationOECD-FAO Agricultural Outlook 2012-2021
OECD-FAO Agricultural Outlook 2012-2021 FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS OECD-FAO Agricultural Outlook 2012 OECD/FAO 2012 Chapter 5 Oilseeds and Oilseed Products 133 5. OILSEEDS
More informationOILSEEDS AND OILSEED PRODUCTS
3. COMMODITY SNAPSHOTS OILSEEDS AND OILSEED PRODUCTS Market situation Global oilseeds production in the 214 marketing year (see glossary for a definition of marketing year) reached record levels for the
More informationOECD-FAO Agricultural Outlook 2012 OECD/FAO 2012. Chapter 3. Biofuels
OECD-FAO Agricultural Outlook 2012 OECD/FAO 2012 Chapter 3 Biofuels 87 Biofuels were added to the Outlook in 2008 as an emerging sector that would increasingly affect agricultural markets. This has certainly
More informationPolicy Options for Integrated Energy and Agricultural Markets and Global Biofuels Impacts
Policy Options for Integrated Energy and Agricultural Markets and Global Biofuels Impacts Wally Tyner Collaborators: Dileep Birur, Tom Hertel, Farzad Taheripour Main Topics Energy and agricultural markets
More informationEffects of Recent Energy Price Reductions on U.S. Agriculture
United States Department of Agriculture BIO-04 June 2015 A Report from the Economic Research Service www.ers.usda.gov Effects of Recent Energy Price Reductions on U.S. Agriculture Kandice K. Marshall,
More informationEthanol Usage Projections & Corn Balance Sheet (mil. bu.)
Ethanol Usage Projections & Corn Balance Sheet (mil. bu.) Updated 12/21/215 Historic Est. Prelim. Proj. 216-17 Year: (production/marketing) 1/ 211-12 212-13 213-14 214-15 215-16 Low Med. 4 High Yield (bu.
More informationImpacts of the EU biofuel policy on agricultural markets and land use
Impacts of the EU biofuel policy on agricultural markets and land use Modelling assessment with AGLINK-COSIMO (2012 version) Sophie Hélaine Robert M barek Hubertus Gay 2 0 1 3 Report EUR 26107 EN European
More informationGLOBAL BIOFUELS OUTLOOK 2010-2020 MAELLE SOARES PINTO DIRECTOR BIOFUELS EUROPE & AFRICA WORLD BIOFUELS MARKETS, ROTTERDAM MARCH 23, 2011
GLOBAL BIOFUELS OUTLOOK 2010-2020 MAELLE SOARES PINTO DIRECTOR BIOFUELS EUROPE & AFRICA WORLD BIOFUELS MARKETS, ROTTERDAM MARCH 23, 2011 Presentation Overview Global Outlook Biofuels Mandates in 2010 Total
More informationEnergy in 2020: Assessing the Economic Effects of Commercialization of Cellulosic Ethanol
Energy in 2020: Assessing the Economic Effects of Commercialization of Cellulosic Ethanol by Stefan Osborne Office of Competition and Economic Analysis Executive Summary U.S. dependence on imports of crude
More informationFUTURES TRADERS GUIDE TO THE WASDE
FUTURES TRADERS GUIDE TO THE WASDE Your Guide To Understanding The USDA World Agriculture Supply & Demand Estimates For Corn, Soybeans And Wheat By Craig & Drew Daniels 1.800.800.3840 What Is The WASDE?
More informationOutlook for the 2013 U.S. Farm Economy
Outlook for the 213 U.S. Farm Economy Kevin Patrick Farm and Rural Business Branch Resource and Rural Economics Division Highlights Net farm income in 213 forecast: $128.2 billion Net cash income in 213
More information2013 World Grain Outlook
2013 World Grain Outlook Presented by: John Roach February 18, 2013 Disclaimer: Futures/options trading involves substantial risk of loss and trading may not be suitable for all investors. You should fully
More informationA GLOBAL OVERVIEW OF VEGETABLE OILS, WITH REFERENCE TO BIODIESEL
A GLOBAL OVERVIEW OF VEGETABLE OILS, WITH REFERENCE TO BIODIESEL A Report for the IEA Bioenergy Task 40 By Frank Rosillo-Calle, CEP/Imperial College London, UK Luc Pelkmans, VITO, Belgium Arnaldo Walter,
More informationAGRICULTURE FOR FOOD AND FOR BIOENEGY: IS IT POSSIBLE?
GLOBAL SUSTAINABLE BIOENERGY PROJECT AGRICULTURE FOR FOOD AND FOR BIOENEGY: IS IT POSSIBLE? Dr. Rodolfo Quintero-Ramírez March 24 th, 2010 Sao Paulo, Brazil ? FOOD ANIMAL FEED AGRICULTURE BIOENERGY BIOPRODUCTS
More informationCanadian Agricultural Outlook
2015 Canadian Agricultural Outlook Information contained in this report is current as of February 11, 2015. Her Majesty the Queen in Right of Canada, represented by the Minister of Agriculture and Agri-Food,
More informationChuck Neece Director Research and Development FUMPA BioFuels
Chuck Neece Director Research and Development FUMPA BioFuels What is Biodiesel? Just give me the Facts! Biodiesel is Not! Just filtered grease or oil in your tank This would not be chemically changed to
More informationBoard of Governors of the Federal Reserve System. International Finance Discussion Papers. Number 967. March 2009
Board of Governors of the Federal Reserve System International Finance Discussion Papers Number 967 March 2009 Biofuels Impact on Crop and Food s: Using an Interactive Spreadsheet Scott Baier, Mark Clements,
More informationWorld Fuel Ethanol. Analysis and Outlook. Prepared for METI. Dr. Christoph Berg, F.O. Licht
Analysis and Outlook Prepared for METI By Dr. Christoph Berg, F.O. Licht 1 Some basic concepts By production route: Fermentation vs. Synthetic By composition: Anhydrous vs. Hydrous By end-use: Beverage,
More informationA Note on Rising Food Prices
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized POLICY RESEARCH WORKING PAPER 4682 A Note on Rising Food Prices The World Bank Development
More informationINTRODUCTION TO THE ETHANOL SUPPLEMENT
INTRODUCTION TO THE Program planning for export market development must take into account the diversity of market development programs, geographic realities, economic conditions, the nature of constraints
More informationBASEL, 3 FEBRUARY 2016
BASEL, 3 FEBRUARY 2016 SAFE HARBOR ADDITIONAL INFORMATION AND WHERE TO FIND IT THE TENDER OFFER FOR THE OUTSTANDING SHARES, AMERICAN DEPOSITARY SHARES AND OTHER OUTSTANDING EQUITY INSTRUMENTS IN THE COMPANY
More informationKazan Federal University
Kazan Federal University The Russian agricultural sector and WTO: advantages and disadvantages Doctor of Economic Sciences, Head of the Banking Chair Vagizova Venera Doctor of Economic Sciences Labedeva
More informationMarket Monitor Number 3 November 2012
Market Monitor Number 3 November 2012 AMIS Crops: World Supply-Demand Balances in 2012/13 World supply and demand situation continues to tighten for wheat and maize but rice and soybeans have eased. In
More informationOverview of the OECD-FAO Agricultural Outlook 2016-2025
OECD-FAO Agricultural Outlook 216-225 OECD/FAO 216 PART I Chapter 1 Overview of the OECD-FAO Agricultural Outlook 216-225 This chapter provides an overview of the latest set of quantitative medium-term
More informationLiquid Biofuels for Transport
page 1/11 Scientific Facts on Liquid Biofuels for Transport Prospects, risks and opportunities Source document: FAO (2008) Summary & Details: GreenFacts Context - Serious questions are being raised about
More informationGovernor s Executive Order, 09-05 Dept. of Ecology, Air Quality Program Bob Saunders
Governor s Executive Order, 9-5 Dept. of Ecology, Air Quality Program Bob Saunders New Date New Topic Format Mar 25 May 18 Jul 17 Alternatives Input; possibly review econ input highhlights, i.e.investment,
More informationList of tables. I. World Trade Developments
List of tables I. World Trade Developments 1. Overview Table I.1 Growth in the volume of world merchandise exports and production, 2010-2014 39 Table I.2 Growth in the volume of world merchandise trade
More informationWILMAR INTERNATIONAL LIMITED Investor Day Presentation
WILMAR INTERNATIONAL LIMITED Investor Day Presentation April 25, 2014 BY THOMAS LIM GENERAL MANAGER - TRADING IMPORTANT NOTICE Information in this presentation may contain projections and forward looking
More informationPresentation by Dr James Fry, Chairman, LMC International, Oxford, UK to the Canola Council of Canada Vancouver, B.C., March 2013 www.lmc.co.
Key global trends in agriculture and in oils in particular Presentation by Dr James Fry, Chairman, LMC International, Oxford, UK to the Canola Council of Canada Vancouver, B.C., March 2013 www.lmc.co.uk
More informationInnovative Technology Solutions for Sustainability ABENGOA. Industrial Production Market Outlook. Analyst & Investor Day. Javier Salgado Javier Molina
Innovative Technology Solutions for Sustainability ABENGOA Industrial Production Market Outlook Javier Salgado Javier Molina Analyst & Investor Day May 2012 Agenda 1 Bioenergy Market Outlook & Growth Strategy
More informationRenewable energy in transport
Renewable energy in transport Source: http://worldwideed.staradvertiserblogs.com/2009/11/23/fun-day-monday-free-transport-from-naia-airport World transport energy use is growing rapidly Source: IEA Energy
More informationGlobal growth rates Macroeconomic indicators CEDIGAZ Reference Scenario
Medium and Long Term Natural Gas Outlook CEDIGAZ February 215 Global growth rates Macroeconomic indicators CEDIGAZ Reference Scenario 4 3 %/year 199-213 213-235 6 Main consuming markets - %/year (213-235)
More informationTennessee Agricultural Production and Rural Infrastructure
Tennessee Trends in Agricultural Production and Infrastructure Highlights - In many states the percentage of the state population designated by the U.S. Census Bureau as living in rural areas has declined,
More informationSection C. Diet, Food Production, and Public Health
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike License. Your use of this material constitutes acceptance of that license and the conditions of use of materials on this
More informationMeat and Meat products: price and trade update Issue 1 May 2014. Meat and Meat products. Price and Trade Update: April 2014 1
Issue 1 May 2014 Weekly Newsletter Meat and Meat products Price and Trade Update April export prices stable Meat and Meat products Price and Trade Update: April 2014 1 The FAO Meat Price Index averaged
More informationShifts and emerging trends in commodity production and trade flows
Shifts and emerging trends in commodity production and trade flows Mathilde Douillet, FARM, Cirad (France) QUNO workshop «New Framework for Trade and Investment in Agriculture» 22 January 2014 Trends in
More informationWorld Agricultural Supply and Demand Estimates
ISSN: 1554-9089 World Agricultural Supply and Demand Estimates Office of the Chief Economist Agricultural Marketing Service Farm Service Agency Economic Research Service Foreign Agricultural Service WASDE
More informationThird Quarter 2015 Earnings Conference Call. 21 August 2015
Third Quarter 2015 Earnings Conference Call 21 August 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More informationShort-Term Fertilizer Outlook 2014 2015
A/14/140b November 2014 IFA Strategic Forum Marrakech (Morocco), 19-20 November 2014 Short-Term Fertilizer Outlook 2014 2015 Patrick Heffer and Michel Prud homme International Fertilizer Industry Association
More informationWoody Biomass Supply and Demand 1
Woody Biomass Supply and Demand 1 Bryce Stokes, Ph.D. Senior Advisor Navarro Research & Engineering, Inc. Department of Energy, Golden Field Office Golden, CO Introduction Forest biomass is one of the
More informationAbstract. In this paper, we attempt to establish a relationship between oil prices and the supply of
The Effect of Oil Prices on the Domestic Supply of Corn: An Econometric Analysis Daniel Blanchard, Saloni Sharma, Abbas Raza April 2015 Georgia Institute of Technology Abstract In this paper, we attempt
More informationAnalysis for Strategic Planning Applied to Ethanol and Distillers Grain
International Food and Agribusiness Management Review Volume 16, Special Issue 3, 2013 Analysis for Strategic Planning Applied to Ethanol and Distillers Grain Dennis M. Conley Professor and Director, Graduate
More informationMILK AND MILK PRODUCTS
Market summaries MILK AND MILK PRODUCTS World milk production in is forecast to grow by 1.9 percent to 780 million tonnes a similar rate to that in previous years. Asia and Latin America and the Caribbean
More informationFCStone Grain Recap October 1, 2015
CORN: A choppy but firm market today. Today starts the march of the private crop estimates led off with FCStone s number this afternoon. Export sales reported today showed net bookings of 748.2 tmt as
More informationOutlook for U.S. Agricultural Trade
Electronic Outlook Report from USDA s Economic Research Service and Foreign Agricultural Service United States Department of Agriculture AES-85 February 19, 2015 Outlook for U.S. Agricultural Trade FY
More informationFrom Biomass. NREL Leads the Way. to Biofuels
From Biomass NREL Leads the Way to Biofuels The Wide World of Biofuels Fuel Source Benefits Maturity Grain/Sugar Ethanol Biodiesel Corn, sorghum, and sugarcane Vegetable oils, fats, and greases Produces
More informationU.S. crop program fiscal costs: Revised estimates with updated participation information
U.S. crop program fiscal costs: Revised estimates with updated participation information June 2015 FAPRI MU Report #02 15 Providing objective analysis for 30 years www.fapri.missouri.edu Published by the
More informationMarket Briefing: S&P 500 Revenues & the Economy
Market Briefing: S&P Revenues & the Economy December 14, 2 Dr. Edward Yardeni 16-972-7683 eyardeni@ Joe Abbott 732-497-36 jabbott@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog.
More informationNATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE
NATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE Ukrainian agricultural products competitiveness on European market in time of financial challenges Sergey Grygoryev Contents: Part 1. Trade
More informationResearch Commodities El Niño returns grains and soft commodities at risk
Investment Research General Market Conditions 20 May 2015 Research Commodities El Niño returns grains and soft commodities at risk Meteorologists now agree that El Niño has arrived and project that it
More informationA Global Outlook on Sustainability in the Dairy Production
A Global Outlook on Sustainability in the Dairy Production VII CONGRESO COOPERATIVAS AGRO-ALIMENTARIAS Hans Jöhr Head Corporate Operations Agriculture Valencia, 27 February 2015 Content Part I: The challenge
More informationAgricultural Reinsurance in Latin America Actual Situation & Outlook. 4 th Reinsurance Congress Rio de Janeiro (Brazil) April 2015
Agricultural Reinsurance in Latin America Actual Situation & Outlook 4 th Reinsurance Congress Rio de Janeiro (Brazil) April 2015 AGENDA Commodity Price & Food Consumption Context Worldwide Agriculture
More informationCommodity Market Monthly
Commodity Market Monthly 1 Research Department, Commodities Team* February 11, 215 www.imf.org/commodities Commodity prices fell by 12. percent in January, mainly the result of a sharp decline in oil prices.
More informationFCStone Grain Recap January 6, 2016
CORN: CH16 made new contract lows but were unable to hold below unchanged into the close. Weekly ethanol production marginally higher this week, up 4 thbpd to 996. Ethanol stocks built again reaching 21099
More informationMilk and milk products market summary
Milk and milk products market summary Food Outlook Prices of dairy products began to decline in mid-2011, as supplies to the international market improved. In April, after a favourable outcome of the milk-producing
More informationJuly 2010. Chart 1: World Edible Oil Production
Agricultural Products An Overview of the Edible Oil Markets: Crude Palm Oil vs Soybean Oil July 2010 Edible vegetable oils are some of the most crucial cooking ingredients in the world. In addition, edible
More informationRECENT TRENDS AND CRITICAL ISSUES IN INTERNATIONAL TRADE LIBERALIZATION
RECENT TRENDS AND CRITICAL ISSUES IN INTERNATIONAL TRADE LIBERALIZATION Parr Rosson Professor and Extension Economist Department of Agricultural Economics Texas A&M University U.S. agriculture has undergone
More informationAgricultural Production and Research in Heilongjiang Province, China. Jiang Enchen. Professor, Department of Agricultural Engineering, Northeast
1 Agricultural Production and Research in Heilongjiang Province, China Jiang Enchen Professor, Department of Agricultural Engineering, Northeast Agricultural University, Harbin, China. Post code: 150030
More informationCash Flow Projection for Operating Loan Determination
E-19 RM-7.0 02-09 Risk Management Cash Flow Projection for Operating Loan Determination Danny Klinefelter and Dean McCorkle* A cash flow statement can be simply described as a record of the dollars coming
More informationLand Use Change Greenhouse Gas Emissions of European Biofuel Policies Utilizing the Global Trade Analysis Project (GTAP) Model
Land Use Change Greenhouse Gas Emissions of European Biofuel Policies Utilizing the Global Trade Analysis Project (GTAP) Model August 30, 2013 By: Thomas Darlington and Dennis Kahlbaum Air Improvement
More informationThe Global Economic Impacts of Oil Price Shocks
The Global Economic Impacts of Oil Price Shocks Presented to: Project LINK, United Nations New York, NY November 22, 2004 Presented by: Sara Johnson Managing Director, Global Macroeconomics Group 781-301-9115
More informationFirst Quarter 2015 Earnings Conference Call. 20 February 2015
First Quarter 2015 Earnings Conference Call 20 February 2015 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning
More informationSulfuric Acid 2013 World Market Outlook and Forecast up to 2017
Brochure More information from http://www.researchandmarkets.com/reports/2547547/ Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Description: Sulfuric Acid 2013 World Market Outlook and
More informationsite Storage 7 million gallons of feedstock storage and 10 million of biodiesel storage Plant Info
AFOA 2015 Company Highlights Premier operating asset in the industry in terms of: Scale single largest biodiesel production site in North America Flexibility pretreatment system enables use of lower grade
More informationAGRICULTURAL SCIENCES Vol. II - Crop Production Capacity In North America - G.K. Pompelli CROP PRODUCTION CAPACITY IN NORTH AMERICA
CROP PRODUCTION CAPACITY IN NORTH AMERICA G.K. Pompelli Economic Research Service, U. S. Department of Agriculture, USA Keywords: Supply, policy, yields. Contents 1. Introduction 2. Past Trends in Demand
More informationBiofuels Outlook Market Developments and Policy Challenges Anselm Eisentraut
Biofuels Outlook Market Developments and Policy Challenges Anselm Eisentraut OECD/IEA 214 World biofuels produc@on end of rapid expansion? mb/d billion litres/yr 2.5 14 2. 12 1 1.5 8 1. 6.5 4 2. 21 23
More informationBiofuels and Commodity Markets Palm Oil Focus 1. P. Thoenes 2,3 FAO, Commodities and Trade Division
Biofuels and Commodity Markets Focus 1 P. Thoenes 2,3 FAO, Commodities and Trade Division Abstract: In the last few years, demand for ethanol and biodiesel derived from grains, vegetable oils, sugar and
More informationA Business Newsletter for Agriculture. Vol. 12, No. 1 www.extension.iastate.edu/agdm. Energy agriculture - where s the nitrogen?
A Business Newsletter for Agriculture Vol. 12, No. 1 www.extension.iastate.edu/agdm November 2007 Energy agriculture - where s the nitrogen? by Don Hofstrand, value-added agriculture specialist, co-director
More informationGlobal Biofuels Outlook to 2020. Alternative Aviation Fuel In Asia Singapore February 15-16, 2012
Global Biofuels Outlook to 2020 Alternative Aviation Fuel In Asia Singapore February 15-16, 2012 Overview 1. Global Product Demand 2. Global Biofuels Mandate 3. Biofuels Penetration in the Global On-road
More informationECONOMIC CONTRIBUTION OF NORTH CAROLINA AGRICULTURE AND AGRIBUSINESS
ECONOMIC CONTRIBUTION OF NORTH CAROLINA AGRICULTURE AND AGRIBUSINESS $76 BILLION Agriculture and Agribusiness, including the farming, processing, wholesaling and retailing of food, natural fiber and forestry
More informationAFBF Comparison of Senate and House Committee passed Farm Bills May 16, 2013
CURRENT LAW SENATE AG COMMITTEE (S. 954) HOUSE AG COMMITTEE (HR 1947) Reported out of Committee 15 5 Reported out of Committee 36 10 Cost $979.7 billion over the 10 years before sequester reductions of
More informationCONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES IN 2014
CONTRIBUTION OF THE ETHANOL INDUSTRY TO THE ECONOMY OF THE UNITED STATES IN 2014 Prepared for the Renewable Fuels Association by John M. Urbanchuk Managing Partner February 2015 The U.S. ethanol industry
More informationFAO price indices for oilseeds, oils and meals (monthly values, 2002-2004=100)
OILSEEDS, OILS & MEALS MONTHLY PRICE AND POLICY UPDATE * No. 28, September 2011 a) Global price review In August, the FAO price indices for oilseeds, oils/fats and meals all fell by 2-3 percent compared
More informationAnnex 5A Trends in international carbon dioxide emissions
Annex 5A Trends in international carbon dioxide emissions 5A.1 A global effort will be needed to reduce greenhouse gas emissions and to arrest climate change. The Intergovernmental Panel on Climate Change
More informationTotal Income from Farming in the United Kingdom. First estimate for 2015
28 April 2016 Total Income from Farming in the United Kingdom First estimate for 2015 This release presents the first estimate of Total Income from Farming for the United Kingdom for 2015. Total Income
More informationPolicy Options for Integrated Energy and Agricultural Markets. Wally Tyner Farzad Taheripour
Policy Options for Integrated Energy and Agricultural Markets Wally Tyner Farzad Taheripour Market Integration In the past, agricultural markets have been well integrated. Markets for different energy
More informationBIODIESEL THE NEW FUEL FROM BRAZIL NATIONAL BIODIESEL PRODUCTION & USE PROGRAM
BIODIESEL THE NEW FUEL FROM BRAZIL NATIONAL BIODIESEL PRODUCTION & USE PROGRAM BIODIESEL: THE NEW FUEL FROM BRAZIL The Brazilian Government has just authorized the commercial use of a new fuel. Brazil
More informationThe Economic Impact of the Biodiesel Industry on the U.S. Economy
The Economic Impact of the Biodiesel Industry on the U.S. Economy A study for: National Biodiesel Board November 2013 Research and analysis to inform your business decisions LMC International Oxford 4
More informationthis section shall not count toward pay limits under the 2014 Farm Bill limits. (Section 1119)
Title I Commodities (1) Repeal of Direct Payments Section 1101 of the House bill repeals direct payments effective with the 2014 crop year. The section continues direct payments for the 2013 crop year
More informationII. Merchandise trade
II. Merchandise trade Merchandise trade increased by 5 per cent in volume in 211. The strongest momentum was achieved by trade in manufactured goods, which grew by.5 per cent. Key developments in 211:
More informationThe Global Chemical Industry: US, China and Global Status and Opportunities, 2015
The Global Chemical Industry: US, China and Global Status and Opportunities, 2015 August 28, 2005 American Chemical Society Martha Gilchrist Moore Moore Economics mmoore@mooreeconomics.com Opportunities
More informationGG102 Unit 2. Energy Lecture 4. Hydropower and Biofuels
GG102 Unit 2. Energy Lecture 4 Hydropower and Biofuels Fuel Sources used in the USA Renewables = 8 % of fuel used in the USA Petroleum Fuel Type Natural Gas Coal Nuclear Power Renewable Energy (solar,
More informationWheat Import Projections Towards 2050. Chad Weigand Market Analyst
Wheat Import Projections Towards 2050 Chad Weigand Market Analyst January 2011 Wheat Import Projections Towards 2050 Analysis Prepared by Chad Weigand, Market Analyst January 2011 Purpose The United Nations
More informationGlobal trends in production and trade of major grain legumes
International Conference on Grain Legumes: Quality Improvement, Value Addition and Trade, February 14-16, 2009, Indian Society of Pulses Research and Development, Indian Institute of Pulses Research, Kanpur,
More informationAGRI- BUSINESS IN ARGENTINA A SEMINAR ON INVESTMENT OPPORTUNITIES
AGRI- BUSINESS IN ARGENTINA A SEMINAR ON INVESTMENT OPPORTUNITIES Maximiliano Moreno Director of Multilateral Negotiations Ministry of Agriculture, Livestock and Fisheries Argentina NEW INTERNATIONAL ENVIRONMENT
More informationThird Quarter 2014 Earnings Conference Call. 13 August 2014
Third Quarter 2014 Earnings Conference Call 13 August 2014 Safe Harbor Statement & Disclosures The earnings call and accompanying material include forward-looking comments and information concerning the
More information3.2 Extent of food losses and waste
4 3. Extent of food losses and waste 3.1 Food volumes produced Figure 1 illustrates the 2007 production volumes of all commodity groups in their primary form, including animal feed products (which are
More informationCotton and Wool Outlook
Economic Research Service Situation and Outlook CWS-14h Release Date August 14, 2014 Cotton and Wool Outlook Leslie Meyer lmeyer@ers.usda.gov Stephen MacDonald stephenm@ers.usda.gov Global Cotton Stocks
More information2015 Global Feed Survey
2015 Global Feed Survey 2015 ALLTECH GLOBAL FEED EXECUTIVE SUMMARY 2015 marks the fourth consecutive year that Alltech has conducted this global feed survey. This undertaking has required a significant
More informationDAIRY AND DAIRY PRODUCTS
3. COMMODITY SNAPSHOTS DAIRY AND DAIRY PRODUCTS Market situation International prices of all dairy products continued to decline from their 2013 peak, in particular for skim milk powder (SMP) and whole
More information