Highlights
March options go off the board at the close on Friday, February 23. First notice day for March grains is Thursday, February 29. Be out of longs by the close of business on Wednesday to avoid risk participating in the delivery process.
The U.S. government said on Thursday it approved a request from Midwestern governors allowing expanded sales of gasoline with higher blends of ethanol in their states, starting in 2025, one year later than originally proposed. The government currently restricts sales of E15 (15% ethanol) gasoline in summer months due to environmental concerns. In 2022, the governors of Illinois, Iowa, Minnesota, Missouri, Nebraska, Ohio, South Dakota, and Wisconsin made the request for year-round E15 sales, saying the move could help lower pump prices by boosting fuel volumes.
Tidbits
Dr. Cordonnier reports that with 80% of the soybeans harvested in Brazil’s municipality of Laguna Carapa in southern Mato Grosso do Sul, yields are at 40 sacks per hectare (35 bu/ac). The statewide yield in that area last year was 62 sacks (55 bu/ac). Mato Grosso do Sul is accounted for about 15% of national production.