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December 24, 2014
Grain Market Outlook
stock feed needs. With recent news that China may be
softening these GMO corn restrictions, it is possible that U.S. grain sorghum exports and prices may weaken.
But evidence of this has not yet occurred in U.S. sorghum exports or in local Kansas grain sorghum basis levels.
USDA U.S. So …
December 31, 2016
Grain Market Outlook
locations, with ethanol plants and some export oriented locations at $2.85‐$3.05 /bu..
At major grain elevators in western Kansas, cash grain sorghum prices were in the range of $2.40 ‐ $2.55 /bu
on Thursday, December 29th with basis levels $0.95 to $1.10 un … sh grain sorghum prices were in the range of $2.48 ‐ $2.84 /bu with basis
levels $1.02 to $0.65 u …
August 26, 2009
Energy
… t Construction
The total amount of existing and planned U.S. ethanol industry production capacity never
exceeded the 2015 renewable fuels standard goal of 15 billion gallons (Figure 3). In fact, the
amount of the renewable fuels standard is calculated by the U.S. government on a linearly
trending basis from the current time to year 2015. It is likely that that the sum of total ethanol
production capacity both in place (i.e., already built) and the amount planned (i.e., intended to
be built) was somewhat close to the linear trending U.S. renewable fuels standard at that time.
The lower level of total existing and planned ethanol production capacity that occurred in late
2008 – early 2009 was likely due to changing expectations and prospects for profitability in the
ethanol industry during that time. Since February 2009, total built and planned U.S. ethanol
production capacity has stayed in the range of 14.4 to 14.6 billion gallons, below the renewable
fuels standard of 15.0 billion gallons by 2015.
Total U.S. Feedgrain Use for Fuel Ethanol
U.S. usage of corn or grain sorghum (i.e., feedgrains) as feedstock for fuel ethanol has increased
in a manner mirroring the development of U.S. ethanol production (Figure 4).
Assuming that 1 bushel of corn or grain sorghum produces 2.8 gallons of ethanol, the amount
of feedgrains needed to keep U.S. ethanol plants running at 100% capacity increased from 1.3
billion bushels in January 2005 to 4.535 billion bushels in July 2009. If expansion of U.S.
ethanol production remains at or slightly below the 15 billion gallon fuel standard and is the
efficiency of converting feedgrains to ethanol remains the same, then U.S. feedgrain use (both
corn and grain sorghum together) would be approximately 4.5+ billion bushels.
Trends in Plant Capacity and Plant Numbers by State
Trends by state in ethanol plant capacity (Figure 5) and plant numbers (Figure 6) mirror those
for the overall United States. As of July 2009, the top 9 rated states in terms of ethanol plant
capacity, with number of plants and average plant capacity listed are as follows (Table 1):
Table 1. State Level Ethanol Production Capacity, # of Plants, and Average Capacity per Plant
1 …
January 15, 2016
Grain Marketing Presentations
Percentile
Minimum
U.S. Price
Corn $Price & Basis
$3.24 /buBasis = ($0.35) /bu
Salina, KS
Thursday …
Breakout Sessions
research areas include measuring basis risk for commodity grains … affecting feeder cattle and crop basis, and
machinery costs. One …
August 17, 2016
Breakout session presentations
Feedlot series
3. Incorporate basis into price expectations
• … 4 year historical average basis
– Weighted feeder cattle … 100% PT
Conclusions
• Basis expectations matter in pass-
through …
November 12, 2015
2015 Crop Insurance Workshop Presentations
11/3/2015
$4.87
Wheat $Price & Basis
$4.53 /buBasis = ($0.35) /bu
Salina, KS … 3.46 ¾
Corn $Price & Basis
$3.46 /buBasis = ($0.35) /bu
Salina, KS
Tuesday …
August 1, 2019
Breakout Sessions
County average yields◦ Futures prices with basis adjustmentsProduction practices based on information from KSRE agronomists◦ … 8.25 $3.35 3‐yr avg. basis ‐0.78 ‐0.55 ‐1.34 ‐0.76
Note …
August 3, 2020
Ag Law Issues
can be included in member basis; there is more flexibility … taxpayer contributes money or
basis or borrows funds that are …
September 16, 2020
Limit-Feeding Stockers
their fed cattle on a grid basis.
Values in blue are designed … and selling them on a grid basis.
Reference:
Reuter …