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23/06/2021

Biofuels: Last week, the Energy Information Administration (EIA) of the US Department of Energy reported a sharp increase in ethanol stocks, and analysts polled by Dow Jones believe stocks have continued to rise. According to their estimates, ethanol stocks in the reporting week rose to 21 million barrels, and, if forecasts are correct, their volume returned to March levels. In the previous week, inventories jumped more than 640,000 barrels to 20.6 million barrels. Meanwhile, analysts believe that ethanol production in the reporting week rose by 20,000 barrels per day to 1.045 million barrels per day. The EIA report, which will be released later on Wednesday, may influence estimates of the outlook for corn demand.

22/06/2021

he Maine House and Senate both passed a bill last Thursday that would create the Maine Retirement Savings Program for private-sector workers and allow them to contribute to a Roth IRA from their paychecks. The bill now goes to Maine Gov. Janet Mills, who has 10 days to sign it, veto it or allow it to become law without her signature..

Under the measure, introduced in the Maine Senate by Sen. Eloise Vitelli, D-Arrowsic, companies that don’t have a retirement plan will make deductions from their employees’ paychecks that go into a Roth IRA. Companies don’t match the employees’ contributions. The Roth IRA account would follow workers from job to job until they reach retirement.

“Mainers are known for our incredible work ethic. It seems only fair that people who have worked hard their whole life should be able to enjoy their golden years on stable financial footing,” Vitelli said in a press release. “This bill will help more Maine workers save what they need for a safe and healthy retirement.”

The bill would require companies with 25 or more workers to offer the program by April 1, 2023.

21/06/2021

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