Coffee Cup Comments
Markets are higher across the board this morning. Ethanol production for this last week was up 16K, putting us at 1.03 million barrels a day. Ethanol stocks decreased by 635K down to 24.44 million barrels. Production increased more than expected, while stocks fell more than what was expected. However, stocks are the second highest for this week on record. The Federal Reserve increased interest rates by 25 basis points. It was also indicated that more raises were to come. Weather maps are still showing that SA’s weather outlook remains similar. Brazil will continue to stay wet, while Argentina will remain dry.