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DAILY ENERGY COMMENTS
October 21, 2016
Crude was higher overnight and and is turning neutral to bearish signaling a double top may be forming. Fuel was higher overnight and remains neutral to bearish hinting a short term top may be in or near. Gasoline was higher overnight and is turning neutral to bearish hinting a double top may be forming. The Dollar was higher overnight and remains neutral to bullish signaling sideways to higher prices are possible in the near term. Propane is lower this morning as it is being infulenced by the market moves in crude and is neutral to bullish signaling sideways to higher prices are possible in the near term.
With the relatively lower price of propane expexted to continue into next year here is a formula to consider if replacing your residential water heater.
It takes 27 kWh of usable electricity to equal 1 Gallon of propane. If your rate for electricity is $.1273 per kWh (which is the national average) X 27 kWh = $3.43 per gallon.
The National average for residential Propane is $2.01. This means that propane is a better value versus electrcity.
Some Information concerning SPCC. If your Aggregate Oil and Fuel is greater than 2500 gallons and not more than 6,000 gallons, with no reportable discharge history, you do not need an SPCC farm plan or secondary comtainment by EPA rules. State or local regulations may supersede the Federal EPA so you will need to check out those regulations. For between 6,001 and 20,000 gallons and no tank larger than 10,000 gallons you can self certify with a form that is avalable on the EPA web site (www.epa.gov.) If you have a 20,000 gallons or more total storage or a 10,000 gallon tank or larger you have to have an SPCC Professional Enginer's plan. If any questions please call 320-325-5466.
If you have purchased a piece of farm equipment (Tractor, Combine, New Sprayer and a few other motorized pieces, either New or used up to ten years old from date of manufacture.) they may be eligible for the Best extended warranty in the industry. Please contact Gale Adolph @ 320-343-9022 or cell, 320-815-0730 for more information.
Hope YOU have a great day!
Harvest has been in full swing with a most of the soybeans harvested. A small amount of corn has also been combined. Yeilds have been great on beans and fair to good on corn. Corn moisture has been all over the board running from upper teens to about 26%. Please be safe and have a great harvest.
Also time to pick out your pumpkins.
Keeping costs down means keeping your equipment longer.
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