HEADS UP FOR ENTERPRISE SUBSCRIBERS
I am moving all enterprise subscribers to an alternative platform. Many of you will likely receive emails from both Substack and the new platform the next few updates while I work the kinks out.
Don’t see the normal Sunday and Wednesday updates? Check your junk folder or spam filter.
Thanks
Ten HOT Nuggets
1 | One important cause
As mentioned in Sunday’s update, members of the Senate and U.S. House have introduced the Nationwide Consumer and Fuel Retailer Choice Act to permanently establish E15 as a fuel option year-round, nationwide.
National Corn Growers Association is making a push to see this bill through, with a letter to Congressional leadership in support of the Act.
Show your support for U.S. ethanol and ultimately U.S. corn demand by scanning the QR code in the image below or clicking HERE to sign.
Above: National Corn Growers Association President Ken Hartman encourages the crowd at the 30th Annual National Ethanol Conference in Nashville Tuesday to sign NCGA’s letter in support
2 | Why it matters
Nearly two in every five rows of corn in the United States is used for ethanol production and has been for more than 15 years:
New demand that opened the doors to a new era in prices:
Plus, none of us want to imagine what basis would look like in the heart of the US Corn Belt WITHOUT ethanol:
3 | The math
A one percent increase in blend doesn’t sound like much, but it adds up!
4 | Four weeks in
We are just over four weeks into Donald Trump’s second term and it feels more like four years given all the headlines, tariff threats, and DOGE madness.
Regardless, the U.S. Dollar Index continues following a pattern similar to pre and post-election during Trump’s first term. I added the DXY’s performance surrounding Biden’s 2020 victory today, which took a notably different path.
5 | MZGA
We are making Dec corn great again new crop futures up 33 cents (+7.4%) year-to-date, compared with Nov beans, up 27 cents (+2.6%).
To further illustrate the way new corn is running away from beans, I scaled new crop settles at a 2.35 ratio (what would typically be a heavy corn number) - and corn STILL is running away from beans:
Keep reading with a 7-day free trial
Subscribe to No Bull to keep reading this post and get 7 days of free access to the full post archives.