#rfs2

Good Morning, Crude markets were quiet yesterday, although with new action taking place in Ukraine oil traders have pushed Brent Crude over $110/bbl and WTI over $104/bbl. Geo-political risks are overpowering macro-economic indicators to push crude prices higher. US Crude inventories are expected to rise in today's report, Chinese growth is slowing, and between these two economies lies a third of the world's oil demand. Soybeans are higher this week, despite reports from farmers in the American south that more farms will be switching from corn to soybeans and cotton. Perhaps, they'll all be going into Cotton? Either way, global demand for soybeans and corn has really no place to go but up in the long term. As of close Tuesday: Benchmarks: WTI Crude 103.75 $/bbl 0.01% Brent Crude 109.36 $/bbl 1.89% HO 2.987 $/gl 1.83% Nat Gas 4.567 $/MMBtu -1.15% Ag & Oils: Corn 503.6 $/bu 1.04% Soybeans 1501.2 $/bu 2.61% Soybean Oil (crude) Chicago 0.4283 $/lb 1.73% Canola 483.1 CAD/MT 2.35% USDA Yellow Grease Midwest 0.3 $/lb 0.00% Biodiesel: B100 Northeast FAME 3.46 $/gl 0.00% D4 0.56 $ -3.45% D5 0.505 $ -6.48% RIN Value Per Gallon 0.84 $/gl -3.45%

Good Morning, Heating oil and natural gas are both trending lower over the past week, although remain barely changed since Friday. Last week saw a report predicting a cold winter with above average snow fall due to snow cover in Siberia. An interesting report nonetheless, HO and NG both jumped mid week, only to be tempered by the weekly inventory report showing a continued build in North American production and inventories. Soybean oil found support this morning after cold temperatures may have hurt some crops in Minnesota and North Dakota, but Bean Oil remains at a lower than historically average spread to Heating Oil. RINs saw some activity yesterday, trading 3-4 cents higher on the day, as the rest of the market awaits direction from the EPA. As of Close Monday: Benchmarks: WTI Crude 94.62 $/bbl -1.83% Brent Crude 106.23 $/bbl -2.40% HO 2.8741 $/gl -2.70% Nat Gas 3.445 $/MMBtu -3.80% Ag & Oils: Corn 426.2 $/bu -0.47% Soybeans 1264 $/bu -1.27% Soybean Oil (crude) Chicago 0.4125 $/lb -0.91% Canola 495 CAD/MT -0.18% USDA Yellow Grease Midwest 0.235 $/lb 0.00% Biodiesel: B100 Northeast FAME 3.93 $/gl -2.00% B13 0.38 $ 8.57% E13 0.2775 $ 8.82% RIN Value Per Gallon 0.57 $/gl Thank you, - Jamie