Corn prices sank to a seven-week low today. Corn prices have fallen 20%, driven lower by ideal growing weather in the U.S. corn belt area and a drop in oil prices. Grain prices rose to record-highs, near $8 a bushel in June, as the worst flooding in 15 years ravaged the midwest. The return to warm, dry weather in recent weeks has reinvigorated crops, wiping out all the previous rally's gains. Some analysts now predict corn could produce a respectable yield of 150 bushels per acre, up from about 148 bushels per acre a few weeks ago. The favorable outlook sent December corn prices down 20.25 cents to settle at $6.0825 a bushel on the Chicago Board of Trade, after earlier falling to $6.03, the lowest since May 29. Other agriculture futures also turned lower. Soybeans for November delivery shed 45 cents to settle at $14.03 a bushel, while September wheat lost 13 cents to settle at $7.91 a bushel. Lower corn prices mean consumers likely won't suffer increasing sticker shock at the grocery store. Also, because livestock owners rely on corn to feed their animals, the price of everything from steak to eggs and pork chops should follow. Corn is also used in cereal and as as a sweetner in soda, candy and other food items.
2023-09-28 - A global LNG supply gap will begin to open up in the 2030s, according to a McKinsey & Co. analysis but the U.S. might lose its competitive edge if red tape, particularly around pipeline permitting, isn't addressed.
2023-10-24 - An "unprecedented surge" in LNG projects coming online from 2025 is set to add more than 250 Bcm per year of new capacity by 2030, the International Energy Agency said in its latest World Energy Outlook report.
2023-09-18 - Sempra Infrastructure’s Dan Brouillette, former U.S. energy secretary, describes the shift in thought on climate, energy and economic policy.
2023-12-07 - Argentina’s Vaca Muerta or “dead cow” shale formation represents a game-changing opportunity to convert the South American country into a major exporter of piped-gas and oil to the Southern Cone region as well as oil and LNG to world markets.
2023-11-15 - North American LNG export capacity is expected to grow by 113% from 11.4 Bcf/d to 24.3 Bcf/d by the end of 2027, according to the U.S. Energy Information Administration.