COLUMN-DDGS KEEP ETHANOL PRODUCERS IN THE GREEN, BARELY: MAGUIRE
CHICAGO, February 3 (Reuters) - Surging corn values have shunted spot ethanol producer margins into the red for the first time on record, and inventories of the alternative fuel have recently climbed to their highest level in more than five months.
Combined, these developments might suggest that ethanol manufacturers may be primed to dial down their recent record output pace. But thanks to sustained strength in the price of Distillers' Dried Grains (DDGs) -- a by-product of corn-based ethanol production -- as well as expectations for continued strong ethanol demand, producers remain content to churn out ethanol in record amounts.
BRAZIL BUYS EUROPE NAPHTHA CARGOES -TRADE
LONDON, Feb 7 (Reuters) - Naphtha shipments to Brazil have ramped up, with as least two 30,000 tonne cargoes crossing the Atlantic from Russia at the end of January, traders said.
Two Brazilian companies picked up a shipment each from the Russian port of Tuapse, traders said, as rallying ethanol and seasonal refinery maintenance combined to drive a rise in buying interest from Brazil.
EU LEADERS SEEK TO CURB FOSSIL FUEL HABIT
BRUSSELS, Feb 4 (Reuters) - European Union leaders look set to agree to merge and strengthen energy networks, a move that gives fresh impetus to the renewable energy industry and will help curb Europe's growing reliance on fossil fuels.
Europe could do better than the current trend of exporting 2.5 percent of its annual GDP for energy imports, European Commission President Jose Manuel Barroso told leaders at the start of a summit.
U.S. BIODIESEL ON LIFE SUPPORT, BUT SMILING
CHICAGO, Feb 3 (Reuters) - Biodiesel, still a money-losing proposition in the United States compared to oil-based diesel, is about to have its best year ever thanks to government tax credits and usage mandates.
But it will take months for the biodiesel industry to bounce back after being stranded last year, when the government let its six-year subsidy expire. Biodiesel production fell 20 percent in 2010 and was only half of 2008 output as plants across the country closed or slashed production.
FRENCH OILSEED GIANT RESULTS STABLE, VAUNTS MODEL
PARIS, Feb 3 (Reuters) - French oilseed group Sofiproteol said on Thursday its range of activities from biofuel to green chemicals helped it withstand commodity market tensions last year, enabling it to keep investing in new industrial projects.
High grain prices and unfavourable margins for biodiesel could continue to pressure some operations in 2011, but the group expected tensions in Europe's oilseed market to ease, Chief Executive Philippe Tillous-Borde told reporters.
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