Ethanol prices surge to 18 month highs amid mixed signals
US ethanol prices rise to their highest in 18 months as futures follow gains in corn and gasoline. Midwest prices boost producers like Archer Daniels Midland and Green Plains while potential demand restraint and import competition loom. Exports reach the strongest in over four years led by shipments to China. July ethanol futures peak at 1.677 per gallon before settling at 1.66. EIA data show a year low in stocks and a modest weekly production uptick to 960,000 barrels per day.
MENTIONED IN THIS ARTICLE
U.S
Midwest
Archer Daniels Midland
Green Plains
China
U.S. Department of Agriculture
Chicago Board of
U.S. Energy Information Administration
EIA
Jerrod Kitt
Linn Group
Stephen Mally
the Gazette
Cedar Rapids
Weak jobs report dims rate hike prospect in May
May payrolls rose only 38,000, smallest gain since 2010, with declines in manufacturing and construction. The unemployment rate slipped to 4.7 percent as 458,000 people stopped searching for work, while Verizon strikes weighed on the data. Fed rhetoric suggests rate increases may be delayed amid weak gains and revised March/April figures.
MENTIONED IN THIS ARTICLE
U.S
Federal Reserve
Labor Department
Verizon
Fed
Peter Ireland
Boston College
Janet Yellen
Banks merge as Heartway to acquire Peoples in Winfield
Two Eastern Iowa banks plan a merger creating a 118 million dollar holding. Wayland State Bank of Wayland and Mount Pleasant will unite with Peoples State Bank of Winfield subject to shareholder and regulatory approvals in Q4.
MENTIONED IN THIS ARTICLE
Iowa
Heartway Bancorporation of
Mount Pleasant
Wayland State Bank
Peoples State Bank
Winfield
Wayland
Robert Meyer
Henry
Klay Edwards
Edwards
Meyer
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