Highlights
Farmers and agronomists are sounding the alarm that Tar Spot is becoming quite a problem once again in the far Eastern Corn Belt. We recommend you check your fields as many folks have been very surprised by the intensity of the Tar Spot disease in their corn fields treated a month ago.
The U.S. Energy Information Administration (EIA) raised its USA forecast for crude oil demand, although its price outlook for this year and next has been revised down.
The EIA now sees U.S. petroleum consumption averaging 20.5 million barrels per day in 2024, up 100,000 barrels per day from the agency’s previous prediction.
Worldwide demand was left unchanged at 102.9 million bpd for 2024, but did revise its 2025 consumption 200,000 less bpd to 104.5 million bpd. We hasten to point out that these figures are an increase of 1.1 million bpd for 2024 over 2023 and 1.6 million bpd in 2025 over 2024.