Harvest Delays Expected as Much of Midwest Expects Thunderstorms
E Nebraska and W Iowa have seen flooding along the Missouri River lately and are forecast for more rain this morning through the early part of next week. E Iowa and W Illinois have also been dealing with heavy rainfall and flooding over the past 10 days, and even more rain is expected later today. S Wisconsin and N Illinois can also expect severe thunderstorms later today and into tonight, with the National Weather Service warning of possible hail and 60 MPH winds.
President Trump Plans Trip to Iowa Next Week to Make A Pro-Ethanol Announcement
On Oct 9, President Trump will head to Council Bluffs, Iowa and is expected to instruct the EPA to remove a summertime ban on E15. Iowa is the largest producer of ethanol in the US and the move would likely serve Republicans in rural states well as midterm elections draw nearer. Following the trade war with China, ethanol exports slowed substantially and have caused some US plants to idle or shut down completely. Allowing for year-round E15 would boost domestic demand for ethanol, as well as lower fuel costs as crude oil has recently been approaching 4-year highs. Iowa Senators Joni Ernst and Chuck Grassley are both strongly optimistic that President Trump will follow with his campaign promise.
Export Sales Announcement
Private exporters reported to the U.S. Department of Agriculture export sales of 230,000 metric tons of corn for delivery to Japan during the 2018/2019 marketing year.
Russian Ag Group Considering Halting Loading Of Grain For Export Due To Quality Concerns
Russian agricultural watchdog Rosselkhoznadzor states that it may stop grain loading work at 30 terminals in 2 of the largest grain exporting provinces. The group sites the need to ensure that all grain bound for export is free from pests or toxins such as ergot to prevent any Russian shipments from being rejected by other countries. This news follows stricter quality standards put in place back in mid-September, combined with a stronger rouble has caused Russian grain exports to slow.
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