Dayton Cargill’s corn syrup plant is grinding 145,000 bushels per day, the largest daily grind in about three years. Wednesday evening, Cargill had 50,000 bushels inventory after receiving their first load of new crop corn earlier in the day. They are paying $6.50 for corn through Saturday.
Patrick was at Dayton Cargill a little after 8 AM yesterday morning and there was no line of trucks. It certainly would be logical to expect a line of trucks after Cargill jumped their bid 65¢!
Net ethanol crush profit increased 8¢ to 70¢/gallon yesterday. Despite the kids back in school, the nation’s gasoline demand was at a 9-week high last week, up 253,000 barrels per day to 9.321 million. The soybean crush margin declined 7¢ yesterday with meal a bit lower and oil sharply lower.
Lloyd's of London Insurance CEO Neal said his company would not insure any ships from Ukraine unless the UN clearance was part of the deal. That means the proposed private export corridor deal is dead.