A recent note to investors from J.P. Morgan broke down the implications that the EPA's recently announced biofuels volume mandates for the next 3 years could have on the ag industry.
U.S. Department of Agriculture (USDA) Secretary Tom Vilsack today announced that USDA is accepting applications for $100 million in grants to increase the sale and use of biofuels derived from U.S. agricultural products.
The U.S. Energy Information Admin. (EIA) expects the production of biofuels to continue increasing, but at a relatively slow pace, between 2020-50, according to its Annual Energy Outlook 2020 (AEO2020).
The U.S. economy is still performing well by most key measures. However, consumers, investors, companies and other market participants have become more wary about the near- term future with seemingly good reason. Global and U.S. economic prospects are weakening and the agricultural economy shows few signs of an imminent comeback, according to a comprehensive 2019 outlook report from CoBank’s Knowledge Exchange Division.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.