SHOCK Report: US to Lose 30 MILLION Corn Acres

Joe's Premium Subscription: https://standardgrain.com/Apple Podcasts https://podcasts.apple.com/us/podcast/grain-markets-and-other-stuff/id1494161095Spotify https://open.spotify.com/show/4NJ9AZcSQBrLXFLCcPrGGG🌽📉 A new report warns the US could lose around 30 million corn acres by 2050. Weak feed demand and an ethanol blend rate stuck at 10% are largely to blame.⛽🚗 If the ethanol blend rate doesn't increase, the US stands to lose 6.6 billion gallons of ethanol demand by 2050 as overall gasoline use declines. The Senate is now preparing to vote on E15 legislation after the House narrowly passed a similar bill in May.📊🌾 S&P Global Energy completed the study, and one US farmer summed it up simply: too much supply chasing too little demand. See graphics from the report below, and click the link to view the full report.🌪️⚠️ Severe weather moved through parts of the Midwest last night, with tornadoes confirmed near Harpers Ferry, IA and Charleston, IL. Surrounding areas also experienced heavy winds and hail.🌧️🗺️ A band stretching from central Iowa through central Illinois and into Indiana picked up 1"–3" of rain in the 24 hours ended at midnight. See rain maps below.🫘🦠 Excessive rainfall across the Midwest and Delta has led to soybean disease pressure, including Rhizoctonia and Pythium. Parts of Missouri, Arkansas, Indiana, Tennessee, and other states have seen over 8" of rain in the last 30 days.📈🌾 Grain markets finished higher on Wednesday, with wheat futures leading the charge. The Jul26 HRW contract gained nearly 19 cents to close near $6.53/bu, while Dec26 corn gained more than 6 cents to close near $4.49/bu.🇨🇳🫘 Rumors of Chinese interest in US grains helped support Wednesday's rally. USDA confirmed a flash sale of 372,000 metric tons of soybeans to unknown destinations, which many see as a possible confirmation of that Chinese demand.