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zhuge_liang
Supreme |
13-Jun-2007 21:08
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The corn-to-ethanol margin is at the lowest level since Feb and if maintained will start to put in question the ethanol pull on corn, says Olivier Jakob at Petromatrix. Cellulosic ethanol production using corn stover and switchgrass isn't economically viable, according to Kendell Keith President of the U.S. National Grain and Feed Association. |
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spurs88
Senior |
14-Apr-2007 14:36
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Report can be found here http://www.remisiers.org/research.html |
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flyers
Member |
13-Apr-2007 22:57
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spurs88, don't mind where you obtain the report? |
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alpha23
Member |
13-Apr-2007 21:36
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What time did ML's report came out? *vested =) |
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singaporegal
Supreme |
13-Apr-2007 21:18
Yells: "Female TA nut" |
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TA charts are bullish. Acc/Dist and Chaikin are uptrending. |
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spurs88
Senior |
13-Apr-2007 17:27
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ML targets $0.99!!!!!!! CHEONG AH!!!!!!! A new acquisition China Sun has signed an agreement to acquire a corn starch facility in Liaoning. We view this development positively and increase our FY08E/09E core earnings to RMB440mn (+8%) and RMB510mn (+23%) respectively. We reiterate our Buy recommendation with a raised price objective from S$0.88 to S$0.99. |
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zhuge_liang
Supreme |
13-Apr-2007 13:18
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It plans to acquire a corn starch plant for RMB300 million. The plant, strategically located in Tieling city in Lioaning Province - 60km northeast of Shenyang City, PRC, allows it ready access to abundant corn supplies for its operations. The plant has its own railway track for efficient delivery to other parts of China. It also has its own power plant whereby heat generated from the plant issupplied to nearby households to generate additional revenue in the winter.
The plant currently has an annual corn starch processsing capacity of 50,000 tonnes and will attain 300,000 tonnes. Approximately 100,000 tonnes of this new capacity will be utilized to meet demand from the Group?s new corn sweetener plant in Suzhou, which was announced earlier. On completion of the acquisition, this will boost the total annual corn starch production capacity to 716,000 tonnes. |
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zhuge_liang
Supreme |
26-Mar-2007 12:45
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Competition for China Sun, but in cellulose-based ethanol. There's a posting on this early in the thread. China's state-owned grain trader, COFCO, is hopeful it will achieve a breakthrough by 2008 in the production of cellulose-based ethanol, the next generation biofuel derived from agricultural waste. Frank Ning, chairman of COFCO, told reporters the company expected to find a way to reduce production costs for the ethanol by 2008 as it worked together with Danish enzyme supplier Novozymes A/S on the second-generation biofuel. "We think it's possible to convert cellulose into fuel ethanol in the next 2 to 3 years," Ning said. "By the year 2008, costs for the enzyme will be down to acceptable levels." Ning was speaking to a small group of reporters last week after the market debut of China Agri-Industries, a spin-off of food processor COFCO International in charge of biofuel and soyoil. China Agri is investing 50 million yuan to build a pilot plant to convert cellulose-based biomass into fuel ethanol. The plant in Zhaodong in the northeastern province of Heilongjiang will have an annual capacity of 5,000 tonnes. With a boom in ethanol made from corn or sugar threatening food security in countries such as China and even the United States, many firms, including Du Pont Ning said he would seek government support for the project. China, the world's number-two oil importer, is expected to release a five-year plan for the biofuels sector in the near future, aimed at raising the country's fuel ethanol output to 5 million tonnes by 2010 and 10 million by 2020. Ning said China Agri was best placed to capture domestic demand for fuel ethanol, with aggressive investment plans to raise its annual capacity to 1.08 million tonnes by end-2008. "We are in the best position to expand," the executive said, referring to the market that is strictly regulated by Beijing. "We hope we will account for more than 50% of the government target of 5 million tonnes." Fuelled by investor interest in the budding biofuel sector in energy-hungry China, shares of China Agri had gained 50% to HK$5.56 by Friday from their debut on Wednesday. Ning said COFCO planned to raise its 20% stake in the 440,000 tonne-per-year plant in Anhui, one of the first 4 government sponsored fuel ethanol plants in China. It is run by Anhui BBCA Biochemical Co. Ltd. Though Beijing has stopped approving new fuel ethanol projects since December, it is building a 200,000-tonne-per-year plant in Guangxi, a 300,000-tonne-per-year plant in Hebei, a 300,000-tonne-per-year plant in Liaoning and a 100,000-tonne-per-year plant in Hubei. BOC International, which lead-managed China Agri's IPO, said Beijing would hand out unchanged subsidies of 1,373 yuan per tonne of fuel ethanol in 2007 and 2008 to 4 designated plants, including 3 in which COFCO owns a share. The four plants are were entitled to a waiver of the 5% consumption tax on alcohol and the full refund of value added tax (VAT), it said. Ning said he was confident of the future despite possible increases in prices for raw materials such as corn, as oil prices were unlikely to fall much. |
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lucky168
Veteran |
24-Mar-2007 23:03
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i think the weakness in pricing is due to earlier expectation of getting ethanol license, desipte the corn prices are yet at another high... |
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singaporegal
Supreme |
24-Mar-2007 20:28
Yells: "Female TA nut" |
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Still on long term downtrend. I don't see any reversal sign in the TA charts yet. |
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Nostradamus
Supreme |
23-Mar-2007 23:25
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Corn prices in Chicago may rise to the highest in almost 2 weeks and soybeans may gain as a wet weather pattern in the U.S. Midwest may cause flooding and slow planting of the country's 2 biggest crops. Some fields from Nebraska to Ohio will receive as much as 6" of rain the next 10 days and no sustained period of dry weather is likely during the first half of April, said Tim Bowden, a forecaster for WeatherMarkets.com in Wayne, Pennsylvania. About 41% of the U.S. corn crop has been planted by the end of April over the past 5 years, on average. "Above-normal precipitation over the majority of the upper Midwest through April 1'' is the main supporting factor for futures, said Brian Hoops, president of Midwest Market Solutions in Yankton, South Dakota. "This forecast should attract end- user buying ahead of the growing season'' because of possible yield reduction from late planting, Hoops said. Corn futures for May delivery rose 0.3% to US$4.1075 a bushel before the start of floor trading on the Chicago Board of Trade. Prices, which fell to a 5-week low March 16 at US$3.9225, are up 2.8% this week, the first weekly gain in 4 weeks. Prices have risen 83% in the past year, reaching a 10-year high at US$4.5025 on Feb. 26 on record U.S. production of ethanol, made mostly from corn. Soybean futures for May delivery fell 0.25 US cent to US$7.715 a bushel overnight in Chicago. Prices have climbed 2.4% for the week and before today had gained for 5 straight sessions. Most-active futures, up 34% in the past year, rose to a 32-month high at US$8.0775 on Feb. 22 on speculation that increased returns from growing corn will cut U.S. plantings of soybeans. Wheat futures may rise as more of the grain is added to livestock feed rations as the price of wheat and corn converge. Producers are feeding more wheat to cattle in the U.S. Great Plains as the price premium in Kansas City, Kansas, has declined from US$2.94 a bushel in June to 76 US cents yesterday, a 74% drop, data from the U.S. Department of Agriculture show. Cash prices of wheat in parts of Kansas and Oklahoma, the largest growers of hard red winter varieties, are lower than corn because producers don't have to pay as much for shipping. "Feed yards in the western part of Kansas are starting to accumulate wheat,'' said Larry Glenn, owner of Glenn Commodities in Wichita, Kansas. "One feedlot secured 500,000 bushels to feed for 6 months'' and more feedlots will follow when prices fall at the peak of harvest in June and July, Glenn said. Wheat futures for May delivery rose 0.2% to US$4.68 a bushel in overnight trading in Chicago, which would be a 4th consecutive gain, after dropping to US$4.52 on March 16, the lowest in 5 weeks. Most-active futures are up 1.6 this week. Prices have fallen 16% from a 10-year high of US$5.57 on Oct. 17 after U.S. growers planted 8.7% more winter wheat in October. Corn is the biggest U.S. crop, valued at a record US$33.8 billion in 2006, with soybeans in second place, at US$19.7 billion, government figures show. Wheat is the 4th biggest crop, behind hay, with a value of US$7.7 billion. |
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zhuge_liang
Supreme |
23-Mar-2007 12:41
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Corn prices in Chicago fell for the first time in 3 sessions after a government report indicated that high prices have slowed demand for the biggest U.S. crop.
U.S. exporters reported sales of 641,000 metric tons of corn for the week ended March 15, down 13% from the prior four- week average, even after prices fell to a five-week low, the Department of Agriculture said. Shipments fell 21% from the prior week. "Export sales and shipments are slowing" after prices last month rose to a 10-year high, said Dave Marshall, an independent market analyst in Nashville, Illinois. Corn futures for May delivery fell 0.25 US cent to US$4.095 a bushel on the Chicago Board of Trade, after rising 3% the past two sessions on concern that wet weather will delay plantings in the Midwest in April. Prices, which fell to a five- week low March 16 at US$3.9225, have risen 84 percent in the past year on record U.S. production of corn-based ethanol. Corn also fell on speculation U.S. farmers will increase acreage planted with the grain to the highest in almost 60 years to benefit from the higher prices. Farmers can make US$200 more per acre planting corn than soybeans, which have risen 33% in the past year, said Jeff Hainline, president of Advance Trading Inc. in Bloomington, Illinois. U.S. farmers will probably plant about 87.834 million acres with corn, up 12% from last year and the most since 1949, Informa Economics Inc. said March 16. Soybeans will be planted on 70.384 million acres, down 6.8% and the fewest since 1997, Informa said. "When we survey our farmers and grain merchant clients, they are indicating corn acreage could be up 10 to 12 million acres," Hainline said. "The economics are simple. If you are farming in the Midwest, you can't not plant corn." |
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zhuge_liang
Supreme |
21-Mar-2007 13:01
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Shares of China Agri-Industries, a spinoff of food processor COFCO International, jumped as muchas 60% in their market market debut on Wednesday. The stock soared to a high of HK$5.95 in the morning session before retreating to HK$5.55, up 49% from its issue price of HK$3.72 apiece. Fuelled by investor interest in the budding biofuel sector in energy-hungry China, the company's US$410 million IPO was more than 600x subscribed by retail investors and 100x covered in the institutional tranche. "We are positive on China's biofuel industry, and China-Agri is among the few that have the licences," said Liu Yang, managing director of the US$3 billion Atlantis fund, which bought shares in the company. China's central planning body keeps production of fuel ethanol under strict control to avoid a surge in food prices. Only 4 companies won official approval and a licence by 2005 -- Heilongjiang Alcohol, a unit of China Agri; Jilin Fuel Ethanol, in which CNPC owns 55% and China Agri holds a 20% stake; Anhui BBCA Biochemical, in which COFCO owns 20.7%; and Henan Tianguan Fuel Ethanol, in which Sinopec Group owns 20% and Henan Tianguan Group owns 60%. Beijing, which is encouraging ethanol gasoline to reduce its reliance on imported crude oil and to curb greenhouse gas, plans plans to promote ethanol gasoline on a bigger scale under the 11th Five-year Plan to boost consumption of fuel ethanol to 5 million tonnes by 2010 and 10 million tonnes by 2020. China Agri, which started investing in the biofuel and biochemical business in 2006, plans to boost its fuel ethanol production capacity by five times to 1 million tonnes a year by 2008. |
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lucky168
Veteran |
07-Mar-2007 21:38
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please wait till it drop below 50c. thanks hor. |
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wait4opp
Veteran |
07-Mar-2007 14:24
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What happens to this counter, look like is SUN SET liao..... Lao Sai All The Way...... Avoid from now till 30cents. |
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zhuge_liang
Supreme |
05-Mar-2007 21:12
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More bad news. China is expected to start using biodiesel in cars this year to cut its dependence on imported oil. So far, it has only used ethanol as an alternative fuel, partly due to a shortage of edible oils in the country. More details in the Wilmar thread. This will dampen demand for ethanol. Also, corns prices have been rising due to heavy snow in the US. |
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Nostradamus
Supreme |
05-Mar-2007 14:07
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Broken strong support around $0.575. Very bearish! Cut loss. |
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Happyseah
Senior |
04-Mar-2007 14:06
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i second singaporegal's view |
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singaporegal
Supreme |
04-Mar-2007 13:25
Yells: "Female TA nut" |
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May still be on downtrend |
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lucky168
Veteran |
03-Mar-2007 23:23
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like what i say, if break 58c on Monday, then close one eye (maybe two) for next 3 days. Come back on Thursday & see if Chinasun is sub-50. Then start scooping with 5-10 lots each time. I think basically it is a good stock, but then there are also many good stocks lying around for you to pick up! A stock is good as long as it makes you $$$, iregardless it is profitable or not. Never fall in love with any stocks - that's what I learnt... |
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