Global News Summary
Global OIL HITS 15-MONTH HIGH Oil prices were over $83/barrel Monday, after...
Global BIODIESEL BOAT EARTHRACE CLASHES WITH JAPANESE VESSEL The biodiesel ...
WEDNESDAY EDITION December 16, 2009 Volume 5 Issue 84 Global COUNT...
FRIDAY EDITION December 11, 2009 Volume 5 Issue 82 Global DRAFT CL...
December 9, 2009 Volume 5 Issue 81 Global REPORT FURTHER TOUTS BIODI...
WEDNESDAY EDITION December 2, 2009 Volume 5 Issue 78 Global REPO...
WEDNESDAY EDITION November18, 2009 Volume 5 Issue 75 Global US AND...
FRIDAY EDITION November 6, 2009 Volume 5 Issue 71 North America SEN...
WEDNESDAY EDITION November 4, 2009 Volume 5 Issue 70 Global OIL RIS...
North America RESERVATIONS EXPRESSED AT CLIMATE BILL HEARINGS At the start...
OIL HITS 15-MONTH HIGH
Oil prices were over $83/barrel Monday, after hitting a 15-month high on data showing China's crude oil imports surged by nearly 25% in Dec. and as the dollar weakened, Reuters reports.
OBAMA UNVEILS BILLION-DOLLAR CLEAN ENERGY TAX CREDIT
US President Barack Obama unveiled a $2.3-billion tax credit last Friday to boost jobs by promoting clean energy. Obama said the credit would create 17,000 US jobs and be matched by an additional $5-billion in private capital, Reuters reports.
BIODIESEL RACK PRICES UP IN NEW YEAR
The national average B100 rack price has been up about 14.6cts since Dec. to $3.704/gal, with diesel prices up 6.86cts to $2.25/gal, according to OPIS prices. With the expired biodiesel tax credit factored in, B100 would show a premium of over $1.45/gal.
USDA TO RELEASE 2009 AGRICULTURE REPORT TUESDAY
USDA will release its final 2009 agriculture forecast on Tuesday. Analysts anticipate US soybean production for 2009-10 at 3.337-billion bushels vs. 3.319-billion in the USDA's Nov. report. Soybean ending stocks are pegged at 237-million bushels, down 18-million from the Dec. forecast, Dow Jones reports.
OVER-PRESSURIZATION CAUSES IMPERIUM PLANT RUPTURE
As originally speculated, over-pressurization caused a rupture last month in a glycerin tank at Imperium Renewables' 100-million gal/yr biodiesel plant in Grays Harbor, WA, OPIS reports. The plant has been offline ever since, and will not resume "until we are confident that it runs as designed," CEO John Plaza said.
FUTURE CAPITAL PARTNERS SEEK $376MM FOR UK ETHANOL PLANT
London-based Future Capital Partners is looking to benefit from the UK’s RTFO and raise $376-million for a wheat ethanol plant in North England. The company will lease the plant to Vireol, in which investors will own a 40% stake. Ten-year off-take agreements have been signed with a large investment bank and an animal feed company, Reuters reports.
Asia / Pacific
MALAYSIA CPO EARNINGS MAY RECOVER
Malaysia's 2010 CPO export earnings may recover to pre-economic crisis levels, the deputy minister for Plantation Industries and Commodities stated. With a projected export volume of 16-17-million mt and CPO prices around $854/mt, palm oil export earnings could rise to $19.5-billion this year, CME reports.
CHINA DEC SOYBEAN IMPORTS RISE 45%
China's Dec. soybean imports rose 45% from last year to 4.78-million mt, the General Administration of Customs said Sunday, Dow Jones reports.
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