Biden Finalizes Rule to INCREASE EV Sales

Grain Markets and Other Stuff

English - March 22, 2024 10:00 - 16 minutes - 23.1 MB - ★★★★★ - 249 ratings
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Futures and options trading involves risk of loss and is not suitable for everyone.

The Biden administration finalizes rule to accelerate transition to zero-emission vehicles 🚗⚡, requiring automakers to increase EV sales and reduce carbon emissions from gas-powered cars between 2027 and 2032. Options provided for automakers to meet targets, raising concerns from ethanol and oil industries about affordability and availability of gas-powered vehicles.

USDA to release prospective plantings report 🌱 next week. AgMarket's projections are showing a decline in corn acres, an increase in soybean acres, and a significant decline in wheat acres due to pricing and USDA's acreage adjustments.

US corn export sales decline 🌽, while soybean sales increase, with notable cancellations from China and other countries impacting wheat sales.

Louis Dreyfus reports over $1 billion in profit for 2023, reflecting market volatility and investments in new assets, including domestic ethanol operations.

Weekly drought monitor data shows mostly unchanged conditions in the Corn Belt, with slight improvements in some areas, while drought persists across the High Plains.

Cattle on feed report expected later today, with projections indicating increases in placements due to weather disruptions, to be released at 2:00 p.m. CST. 📊🌧️🐄