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Midwest floods hammer U.S. ethanol industry, push some gasoline prices toward five-year high

FILE PHOTO: A motel, restaurant and travel stop are shown surrounded by flood waters in this aerial photo in Percival, Iowa
FILE PHOTO: A motel, restaurant and travel stop are shown surrounded by flood waters in this aerial photo in Percival, Iowa, U.S., March 29, 2019. REUTERS/Tom Polansek/File Photo

April 8, 2019

By Jarrett Renshaw and Stephanie Kelly

NEW YORK (Reuters) – The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country’s interior while the U.S. coasts suffer from shortages of the biofuel.

The historic March floods have dealt a series of blows to large swaths of an ethanol industry that was already struggling with high inventories and sluggish domestic demand growth. And the ethanol shortages are one factor pushing gasoline prices in Los Angeles and Southern California to the highest in the nation and they could top $4 a gallon for the first time since 2014, according to tracking firm GasBuddy.

Benchmark price for ethanol used in most supply contracts initially jumped on news of the floods but has been hobbled by rising waters around the Chicago hub that have halted barges and sales. That stands in contrast to prices on the coasts, which rose dramatically – drawing in heavy imports from Brazil, the main U.S. ethanol competitor.

The floods inflicted billions of dollars in damage to crops and homes in the U.S. Midwest, and knocked out roughly 13 percent of ethanol capacity.

U.S. ethanol is made from corn and required by the government to be blended into the nation’s fuel supply to reduce emissions.

While some ethanol plants were flooded, the primary effect of the rising waters was to shut rail lines that serve as the main arteries for corn and ethanol deliveries.

Ethanol prices on the coasts spiked due to shortages, but Midwest producers have been unable to take advantage because of washed-out rail lines, market sources told Reuters.

“Unfortunately for anyone who was impacted by logistics issues it was a double whammy. You couldn’t capture the rally,” said one trader.

At Chicago’s Argo terminal, the nation’s main ethanol pricing hub, the cash price for ethanol fell for an eighth straight session last week to $1.29 a gallon, the longest downward skid since April of last year, according to Oil Price Information Service, which does daily assessments.

Initially, fears of widespread plant outages boosted that benchmark, but plants proved more resilient than expected, continuing to produce despite logistical challenges.

U.S. ethanol inventories were at 24 million barrels for the week ended March 29, just off a record hit a week earlier, according to U.S. Energy Information Administration data.

Chicago’s price acts as the benchmark for millions of barrels bought and sold via longer-term supply contracts each day. While that price faltered, ethanol prices at the coast have surged, helping plants owned by Pacific Ethanol Inc and White Energy in California and Texas to take advantage of higher prices.

Ethanol delivered into Los Angeles typically trades at 20 cents a gallon higher than Chicago, but that premium rose to as high as 50 cents a gallon, traders said. The price in New York Harbor was at roughly double normal levels, traders said.

The tight ethanol supplies, along with refinery outages, boosted retail gasoline prices and led to some gas station shutdowns in the West as blenders there lacked the ethanol needed to blend with gasoline to make fuel that meets government regulations.

Gas prices in Arizona averaged $2.88 per gallon on Sunday, 17 percent higher than last month, according to the American Automobile Association. Prices were even steeper in California at $3.78 a gallon, well above the national average of $2.74 a gallon.

“Ultimately, Los Angeles could get close to seeing that average at $4 a gallon,” Patrick DeHaan, head of petroleum analysis at tracking firm GasBuddy, said, adding that much of that increase will come because of refinery outages in the state.

At least one county in California has already surpassed $4 a gallon. The highest recorded average price for the state was $4.67 a gallon, in October 2012, according to AAA.

The high coastal prices attracted barrels from the biggest U.S. competitor: Brazil. Overall ethanol imports to the United States totaled 558,279 barrels in March, the most seasonally since 2013, according to Refinitiv Eikon ship tracking data. Most of the imports during the month came from Brazil, according to the tracking data.

(Reporting by Jarrett Renshaw and Stephanie Kelly; Editing by Lisa Shumaker)

Source: OANN

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Trump shakes up leadership at Homeland Security Department

Homeland Security Secretary Kirstjen Nielsen has resigned amid President Donald Trump's growing frustration and bitterness over the number of Central American families crossing the southern border.

Trump announced on Sunday in a tweet that U.S. Customs and Border Protection Commissioner Kevin McAleenan would be taking over as acting head of the department. McAleenan is a longtime border official who is well-respected by members of Congress and within the administration. The decision to name a top immigration officer to the post reflects Trump's priority for the sprawling department founded to combat terrorism following the Sept. 11 attacks.

Though Trump aides were eyeing a staff shake-up at Homeland Security and had already withdrawn the nomination for another key immigration post, the development Sunday was unexpected.

Source: Fox News National

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The DOJ Must Act Now

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Source: InfoWars

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President Kushner to Present Trump With His Immigration Plan In Coming Days

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Source: InfoWars

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NFL expands replay to include pass interference

FILE PHOTO: New Orleans Saints head coach Sean Payton looks on as his team takes on the Atlanta Falcons during their NFL football game in New Orleans, Louisiana
FILE PHOTO: New Orleans Saints head coach Sean Payton looks on as his team takes on the Atlanta Falcons during their NFL football game in New Orleans, Louisiana September 8, 2013. REUTERS/Sean Gardner

March 27, 2019

NFL owners voted 31-1 to make offensive and defensive pass interference calls and non-calls reviewable in 2019, the NFL announced Tuesday from the annual league meetings in Phoenix.

According to multiple reports, the Cincinnati Bengals were the only team to vote against the rule.

The new rule, which will be revisited next offseason to determine if it becomes permanent, will allow coaches to challenge any call or non-call of pass interference before the final two minutes of each half, and any such plays to be reviewable by the booth inside of two minutes. Coaches will still be allowed only two challenges per game, or three if the first two are successful.

After getting little support from the owners in meetings Monday, the rule change was pushed over the edge by overwhelming support from coaches, multiple outlets reported. Meetings regarding the rule ran long Monday as coaches made their case for implementing the change, and they continued Tuesday.

New Orleans Saints head coach Sean Payton led the effort, after his team missed out on a likely appearance in Super Bowl LIII when referees failed to make an obvious pass interference call late in the NFC Championship Game against the Los Angeles Rams.

“I think we got it right,” Payton told reporters afterward. “It felt like we had to go around the block twice, and then arrived at the right address.”

Saints owner Gayle Benson, who issued a strong statement after the team’s championship game loss in reference to the officiating, added, “This is what I wanted to happen. That’s why I made my statement. [The missed call] will never happen again.”

“People compromised on long-held views because people wanted to get it right,” commissioner Roger Goodell said in his press conference, held shortly after the new rule was approved.

ESPN’s Adam Schefter reports the new rule would have had a major impact had it been in place earlier, not only the NFC Championship Game but also for Super Bowl LIII.

According to Schefter, the competition committee admitted the new rule would have given the Rams the ball at the 1-yard line with 4:24 remaining as they trailed 10-3 in the Super Bowl, after cornerback Stephon Gilmore subtly hooked wideout Brandin Cooks’ arm on an incompletion in the end zone. No call was made on that play — Cooks still nearly caught the pass, but couldn’t hang on — and Jared Goff was intercepted by Gilmore on the next snap, all but clinching the game for New England.

Meanwhile, the possibility of a “sky judge” — an eighth official looking at camera feeds live to help make obvious decisions without reviews — is not yet dead, according to Steelers owner Art Rooney II. However, there remain a number of logistics to work out on the subject, and it will be revisited later this offseason.

Among other decisions made on rule changes:

–The Kansas City Chiefs’ proposal that would guarantee both teams possession in overtime, regardless of whether the first team to possess the ball scores a touchdown, was tabled until May. The Chiefs lost the AFC Championship Game without possessing the ball in overtime after the Patriots scored a touchdown on the first possession.

–The Denver Broncos’ proposal to allow teams to attempt a fourth-and-15 conversion from their own 35-yard line in lieu of attempting an onside kick — used a maximum of once per game — was rejected, despite seven of eight competition committee members voting in favor of it.

–The definition of plays subject to automatic reviews was expanded. Previously including only plays involving a score or turnover, the category now also includes any score or turnover nullified by penalty or any extra-point or 2-point conversion attempt.

–Changes made to the kickoff in 2018 on a one-year trial were made permanent moving forward.

–All blind-side blocks were made illegal, with the intention of improving player safety after research showed such blocks led to a third of concussions sustained on punts. Previously, players were only allowed to deliver blind-side blocks that avoided the head or neck area.

–After unsportsmanlike conduct penalties occur during a touchdown play, teams are now allowed to choose whether to enforce the penalty on the extra-point try or on the kickoff.

–Field Level Media

Source: OANN

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Report: Trump Advisers Talked About Military Building Migrant Camps

Some of President Donald Trump’s top national security advisers have discussed whether the military could be used to build tent city detention camps for migrants, NBC News is reporting.

The network news, attributing its information to three unnamed officials, said the discussion took place at the White House Tuesday night.

The discussion also dealt with whether the military could actually be used to run the camps once the migrants are housed there. But the NBC News sources say that was unlikely since the law prohibits the military from interacting with migrants.

Acting Defense Secretary Patrick Shanahan, who attended the meeting, was open to sending more troops to the border provided their duties were within the law, the officials told NBC News.

Right now, troops are currently at the southern border and are mainly used for reinforcing fencing with barbed wire, according to the network news.

During the meeting, other potential new projects were discussed, including assessing land for construction of new tent cities in El Paso and Donna, Texas. The military would also be used for assessments before the construction of a processing center in El Paso.

Meanwhile, a border patrol official told NBC News that the military allows for faster construction than private contractors, who can slow down the process. “The importance of (the Department of Defense) is that they are able to mobilize quickly because we face an immediate crisis now,” said the border patrol official.

Source: NewsMax Politics

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Sudanese call for renewed protests to pressure military

Sudanese activists are calling for nationwide protests to press the military to hand over power to a civilian authority after the overthrow of President Omar al-Bashir earlier this month.

Railway workers and other protesters are gathering in Atbara, the northern transport hub where the uprising began in December, and will travel by train to the capital, Khartoum.

The call by the Sudanese Professionals Association comes amid heightened tensions with the military council that seized power earlier this month. The protesters have called for an immediate move to civilian rule and say they will announce their own transitional council on Thursday.

The SPA has also vowed to maintain a mass sit-in outside the military headquarters in Khartoum, after the military called for the reopening of roads and the removal of barricades.

Source: Fox News World

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A man looks out at a flooded residential area in Gatineau
A man looks out at a flooded residential area in Gatineau, Quebec, Canada, April 24, 2019. REUTERS/Chris Wattie

April 26, 2019

MONTREAL/OTTAWA (Reuters) – Rising waters were prompting further evacuations in central Canada on Thursday, with the mayor of the country’s capital, Ottawa, declaring a state of emergency and Quebec authorities warning that a hydroelectric dam was at risk of breaking.

Ottawa Mayor Jim Watson declared the emergency in response to rising water levels along the Ottawa River and weather forecasts that called for significant rainfall on Friday.

In a statement on Twitter, Watson asked for help from the Ontario provincial government and the country’s military.

He warned that “flood levels are currently forecasted to exceed the levels that caused significant damage to numerous properties in the city of Ottawa in 2017.”

Spring flooding had killed one person and forced more than 900 people from their homes in Canada’s Quebec province as of 1 p.m. on Thursday, according to a government website.

Ottawa has received 80 requests for service related to potential flooding such as sandbagging, a city spokeswoman said.

The prospect of more rain over the next 24 to 48 hours triggered concerns on Thursday that the hydroelectric dam at Bell Falls in the western part of Quebec could be at risk of failing because of rising water levels.

Quebec’s provincial police said 250 people were protectively removed from homes in the area as of late afternoon in case the dam on the Rouge River breaks.

The dam is now at its full flow capacity of 980 cubic meters per second of water, said Francis Labbé, a spokesman for the province’s state-owned utility, Hydro Quebec. He said Hydro Quebec expected the flow could rise to 1,200 cubic meters per second of water over the next two days.

“We have to take the worst-case scenario into consideration, since we`re already at the maximum capacity,” Labbé said by phone.

The dam is part of a power station that no longer produces electricity, but is regularly inspected by Hydro Quebec, he said.

(Reporting by Allison Lampert in Montreal and David Ljunggren and Julie Gordon in Ottawa; Editing by James Dalgleish and Peter Cooney)

Source: OANN

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FILE PHOTO: Funeral of journalist Lyra McKee in Belfast
FILE PHOTO: Pallbearers carry the coffin of journalist Lyra McKee at her funeral at St. Anne’s Cathedral in Belfast, Northern Ireland, April 24, 2019. REUTERS/Clodagh Kilcoyne/File Photo

April 26, 2019

BELFAST (Reuters) – Detectives investigating the murder of journalist Lyra McKee in Northern Ireland last week suspect the gunman who shot her dead is in his late teens as they made a further appeal to the local community who they believe know his identity.

McKee’s killing by an Irish nationalist militant during a riot in Londonderry has sparked outrage in the province where a 1998 peace deal mostly ended three decades of sectarian violence that cost the lives of some 3,600 people.

The New IRA, one of a small number of groups that oppose the peace accord, has said one of its members shot the 29-year-old reporter dead in the Creggan area of the city on Thursday when opening fire on police during a riot McKee was watching.

The killing, which followed a large car bomb in Londonderry in January that police also blamed on the New IRA, has raised fears that small marginalized militant groups are exploiting a political vacuum in the province and tensions caused by Britain’s decision to leave the European Union.

Police released footage on Friday of immediately before and after the shooting showing three men who were involved in the rioting and identified one as the gunman who they believe is in his late teens. 

“I believe that the information that can help us to bring those responsible for her murder to justice lies within the community. I need the public to tell me who he is,” Detective Superintendent Jason Murphy told reporters.

Murphy said those involved in the disorder on the night were teenagers or in their early 20s, and that about 100 people were on the ground watching the trouble as it unfolded.

He added that police believed the gun used in the attack was of a similar caliber to those used before in paramilitary type attacks in Creggan. 

“I recognize that people living in Creagan may find it’s difficult to come forward to speak to police. Today, I want to provide a personal reassurance that we are able to deal with those issues sensitively,” Murphy said, echoing similar appeals in recent days.

(Reporting by Amanda Ferguson, editing by Padraic Halpin and Toby Chopra)

Source: OANN

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Traders work on the floor at the NYSE in New York
FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid

April 26, 2019

By Sruthi Shankar and Amy Caren Daniel

(Reuters) – U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world’s largest economy maintained a moderate pace of growth in the first quarter.

Gross domestic product probably increased at a 2% annualized rate in the quarter as a burst in exports, strong inventory stockpiling and government investment in public construction projects offset a slowdown in consumer and business spending, according to a Reuters survey of economists.

The Commerce Department report will be published at 8:30 a.m. ET.

The GDP data comes as investors look for fresh catalysts to push the markets higher. The S&P 500 index is about 0.5% below its record high hit in late September, after surging nearly 17% this year.

First-quarter earnings have been largely upbeat, with nearly 78% of the 178 companies that have reported so far surpassing earnings estimates, according to Refinitiv data.

Wall Street now expects S&P 500 earnings to be in line with the year-ago quarter, a sharp improvement from the 2.3% fall expected at the start of April.

Amazon.com Inc rose 0.9% in premarket trading after the e-commerce giant reported quarterly profit that doubled and beat estimates on soaring demand for its cloud and ad services.

Ford Motor Co shares surged 8.5% after the automaker posted better-than-expected first-quarter earnings largely due to strong pickup truck sales in its core U.S. market.

Mattel Inc jumped 8% after the toymaker beat analysts’ estimates for quarterly revenue, as a more diverse range of Barbie dolls powered sales in the United States.

At 6:52 a.m. ET, Dow e-minis were down 35 points, or 0.13%. S&P 500 e-minis were down 1.5 points, or 0.05% and Nasdaq 100 e-minis were up 10.75 points, or 0.14%.

Among decliners, Intel Corp slumped 7.7% after it cut its full-year revenue forecast and missed quarterly sales estimate for its key data center business.

Rival Advanced Micro Devices declined 0.8%.

Oil majors Exxon Mobil Corp and Chevron Corp are expected to report results later in the day.

(Reporting by Sruthi Shankar and Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

Source: OANN

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General view of a destroyed building during World War II is pictured in Warsaw
General view of a destroyed building during World War II is pictured in Warsaw, Poland April 26, 2019. REUTERS/Kacper Pempel

April 26, 2019

By Joanna Plucinska

WARSAW (Reuters) – Germany could owe Poland more than $850 billion in reparations for damages it incurred during World War Two and the brutal Nazi occupation, a senior ruling party lawmaker said.

Some six million Poles, including three million Polish Jews, were killed during the war and Warsaw was razed to the ground following a 1944 uprising in which about 200,000 civilians died.

Germany, one of Poland’s biggest trade partners and a fellow member of the European Union and NATO, says all financial claims linked to World War Two have been settled.

The right-wing Law and Justice (PiS) has revived calls for compensation since it took power in 2015 and has made the promotion of Poland’s wartime victimhood a central plank of its appeal to nationalism.

PiS has yet to make an official demand for reparations but its combative stance towards Germany has strained relations.

“Poland lost not only millions of its citizens but it was also destroyed in an unusually brutal way,” Arkadiusz Mularczyk, who heads the Polish parliamentary committee on reparations, told Reuters in an interview.

“Many (victims) are still alive and feel deeply wronged.”

His comments come a month before European Parliament elections in which populist and nationalist parties are expected to do well. Poland will also hold national elections later this year, with PiS still well ahead of its rivals in opinion polls.

EU LARGESSE

Mularczyk said the reparations figure could amount to more than 10 times the estimated 100 billion euros ($111 billion) that Poland has received so far in European Union funds since it joined the bloc in 2004.

Germany is the biggest net donor to the EU budget and some Germans regard its contributions as generous compensation to recipient countries like Poland which suffered under Nazi rule.

In 1953 Poland’s then-communist rulers relinquished all claims to war reparations under pressure from the Soviet Union, which wanted to free East Germany, also a Soviet satellite, from any liabilities. PiS says that agreement is invalid because Poland was unable to negotiate fair compensation.

Mularczyk said his committee hoped to complete its report on the reparations issue by Sept. 1, the 80th anniversary of Hitler’s invasion.

Accusing Berlin of playing “diplomatic games” over the issue, he said: “The matter is being swept under the rug (by Germany) … until it’ll be wiped from the memory, from people’s awareness.”

His comments come after the Greek parliament voted this month to seek billions of euros in German reparations for the Nazi occupation of their country.

(Additional reporting by Anna Wlodarczak-Semczuk, Editing by Justyna Pawlak and Gareth Jones)

Source: OANN

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FILE PHOTO - Otto Frederick Warmbier is taken to North Korea's top court in Pyongyang North Korea
FILE PHOTO – Otto Frederick Warmbier (C), a University of Virginia student who was detained in North Korea since early January, is taken to North Korea’s top court in Pyongyang, North Korea, in this photo released by Kyodo March 16, 2016. Mandatory credit REUTERS/Kyodo/File Photo

April 26, 2019

WASHINGTON (Reuters) – U.S. President Donald Trump on Friday said the United States did not pay any money to North Korea as it sought the release of comatose American student Otto Warmbier.

The Washington Post reported on Thursday that Trump had approved payment of a $2 million bill from North Korea to cover its care of the college student, who died shortly after he was returned to the United States after 17 months in a North Korean prison.

(Reporting by Makini Brice and Susan Heavey)

Source: OANN

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