U.S. Ethanol & Biodiesel Market Situation WILL Radio Energy Market Update May 27, 2014 Daniel O’Brien, Ph.D. Extension Agricultural Economist Kansas State University

CBOT Ethanol Futures Weekly Continuous Chart: May 2012 to May 23, 2014 June 2014 $2.308 / gallon Tuesday 10:55 a.m., 5/27/

eCBOT Ethanol Futures 11:15 a.m. on Tuesday, May 27, 2014 Ethanol prices are projected to decline steadily into late Spring, and then steadily through Summer into Fall-Winter 2014

Ethanol & RBOB Futures Weekly Charts: March 2012– May 27, 2014 (11:25 a.m., central time) $Ethanol / $RBOB 3/1/2013= 2.41 / 3.13 = /3/2013= 2.56 / 2.79 = /1/2013= 1.94 / 2.86 = /2/2013= 2.02 / 2.68 = /3/2014= 2.29 / 3.02 = /1/2014= 3.52 / 2.87 = /1/2014= 2.12 / 2.94 = /27/2014= 2.32 / 3.00 = 0.77** eEthanol Futures eRBOB Gasoline Futures

CME Gasoline Unleaded Spot Price Weekly High-Low-Close, May 2011 – May 23, 2014

CBOT Corn eFutures Weekly Continuous Chart: May 2012 – May 27, 2014 JULY 2014 $4.71 ½ / bu 11:39 a.m. May 27, 2014 $4.71

CBOT Corn eFutures Monthly Continuous Chart: March 2005 – April 30, 2014 $3.00 $4.00 JULY 2014 $4.71 ½ / bu 11:39 a.m. May 27, 2014 $4.71

U.S. Ethanol Capacity & Production Source: Renewable Fuels Association as of May 27, 2014 (checked on 5/27/2014)

U.S. Ethanol Production & Corn Use Weekly EIA ethanol data & KSU corn use est’s. (6/4/2010 thru 5/16/2014) 2010/ bb U.S. Corn 2011/ bb U.S. Corn 2012/ bb U.S. Corn 2009/ bb U.S. Corn 2013/ bb* U.S. Corn

Ethanol DDGS & Corn Input Prices ISU Ethanol Plant Model (January 2005 – May 23, 2014)

Ethanol Price, Cost & Profits Ethanol Price, Cost & Profits ISU Ethanol Plant Model (January 2005 – May 23, 2014)

Ethanol Revenues & Net Returns Ethanol Revenues & Net Returns ISU Ethanol Plant Model (January 2005 – May 23, 2014)

Biodiesel & Soybean Oil Prices ISU Biodiesel Plant Model (January 2005 – May 23, 2014)

Biodiesel Price, Cost & Profits Biodiesel Price, Cost & Profits ISU Biodiesel Plant Model (April 2007 – May 23, 2014)