Wednesday Edition

06.10.09

North America






EPA HOLDS RFS HEARING


On Tuesday, the US EPA held a hearing on its proposed Renewable Fuels Standard including about 60 testimonies from the biodiesel and renewable fuels industries. The hearing was followed by a workshop on the application of indirect land use in the rule. Read more [http://cts.vresp.com/c/?WorldEnergyAlternati/d0b62ac1a9/TEST/c22682c598/article_id=3546]






GREENHUNTER SHARES SURGE


Texas-based Greenhunter Energy's shares surged 62% to close at $1.86 on Tuesday with shares rising to $2.15 in after-hours trading.
According to an analyst, daily average volume has been 100,000 shares recently, but 1.6 million shares changed hands Tuesday. Last week, Greenhunter received notice from NYSE Amex that its stock was not meeting listing requirements.





South America





ARGENTINE SOY EXPORTS AT 9-YEAR LOW


The USDA forecasts Argentine soybean production for 2008/09 at 32 million tons, down 6% from last month's projection of 34 million.
Also, Argentine soybean exports for 2008/09 are pegged at 5.4 million mt, the lowest in 9 years.






BRAZIL EXPECTS INCREASED SOY EXPORTS FOR 2009

Brazil expects to export a record 25 million mt of soybeans from the
2008-09 crop, the National Commodities Supply Corp. stated on Monday.
Conab said soybean exports should rise by over 500,000 mt compared to the 2007-08 crop.





COLOMBIA TO MANDATE FLEX-FUEL VEHICLES


The Colombian government has ruled that beginning in 2012 all new vehicles must have flex-fuel technology. The country is expecting record levels of ethanol and biodiesel production this year with five
new facilities coming online before 2010.





Europe





SWEDEN TO PUSH EU CARBON TAX


When Sweden takes the EU presidency in July, it will push EU states to impose a carbon tax to meet emissions reductions targets across Europe. The Prime Minister acknowledged that while a CO2 tax would not be popular, it is less expensive in the long run to shift to a low-carbon economy.





EOP BIODIESEL OPTIMISTIC ABOUT GERMAN MARKET


German biodiesel producer EOP Biodiesel AG stated profitable biodiesel production was again possible in Germany following the rise in crude oil prices and only a moderate rise in costs for rapeseed oil.
However, EOP on Tuesday posted an $18 million loss for the first three quarters ending March.





Asia / Pacific





BIODIESEL PLANT PROPOSED FOR INDIAN RAILWAY


In India, a 26k gal/day biodiesel plant is being proposed at the
Southern Railway Works at Perambur in Chennai. The plant is expected
to be constructed within two years and will produce biodiesel to be used by the railway.





CHINA SOY IMPORTS MAY REACH RECORD HIGH IN JUNE


China's soybean imports in June are likely to reach a record high of nearly 5 million mt, according to a Ministry of Commerce report.
Soybean imports in May were revised downward to 4 million mt.





Market Views





USDA REPORTS ON GLOBAL OILSEED MARKET


A recent USDA report forecast global oilseed production for 2009/10 at
421.4 million tons and also detailed global oilseed trade:


US soybean exports are boosted 0.3 million tons to a record 34.0 million due to continued strong sales, primarily to China.
Argentina's soybean exports are slashed 2.0 million tons to 5.4 million with worsening crop prospects.
Brazil's soybean exports are boosted 1.0 million tons to 27.2 million spurred by reduced competition from Argentina and strong demand from China.
China's soybean imports are boosted 1.3 million tons to 38.8 million with estimated strong imports in recent months.
EU-27 rapeseed imports are raised 0.3 million tons to 3.1 million as large imports from Australia continue.

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