North Dakota farmers: the tea leaves suggest those farmers who can manage the drought situation in North Dakota this year will do very, very well; this begs the question: why not more irrigation in western North Dakota?
Got corn? Corn futures rise to highest since 2013 before USDA report.
Meanwhile, in the EU: the EU is considering relaxing its ban on feeding processed animal protein (PAP) to domestic livestock amid tighter oilseed protein supply and surging international prices; I'm assuming we're talking about:
- soybeans
- rapeseed (canola): see this post;
- sunflower
- fatty acids and vegetable seed oil;
ExxomMobil is considering shutting down refinery in Norway. Link here. Great news for US refiners.
- cites refining overcapacity, falling demand for fuels;
- Slagen refinery processes North Sea crude, major fuel exporter;
- European refiners looking to biofuels, hydrogen projects;
- if converted to a terminal, Slagen would import high-quality fuel products;
- many story lines; much more at the link.
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