Maize prices in January rose on a tug-of-war between ample US production and transport disruptions that constrained Pacific exports. WASDE lifted production on yield revisions, reinforcing crop, while Arctic freezes curtailed inland navigation on the upper Mississippi River system and strained rail networks. Locomotive availability remained tight, extending load-out schedules at interior loaders. January saw Pacific terminal stocks drawn down as elevator turnarounds accelerated to meet vessel line-ups, with renewed export interest supporting bids for Los Angeles shipments. Export markets remained the strongest driver of values, led by demand from Mexico and Japan, sustaining firm Pacific basis premiums for FOB Los Angeles cargoes. Exports remained the top bid support; domestic drivers included steady ethanol grind and resilient feed demand, though feedlot placements softened on cattle-margin weakness, while higher broiler placements underpinned feed demand. The outlook is mixed: a modest uptick is possible, followed by softer conditions before strength returns in spring, depending on logistics easing and crop fundamentals.
Selenis has effectively manufactured recycled PET chips using terephthalic acid sourced from Circ®, a textile-to-textile recycler based in Virginia. The chip production took place through a series of batches at Selenis' pilot plant in San-Giorgio, Italy. By utilizing inputs recovered from polycotton textile waste, Selenis has created high-quality PET chip, which has been further processed into DTY yarn. This yarn will play a crucial role in product development as Circ prepares for additional capsule launches. Selenis is leveraging the success of this initial collaboration phase and is committed to advancing towards an offtake partnership to support Circ's inaugural industrial facility.
Eduardo Santos, Head of Corporate Strategy at Selenis, remarked that the monomer synthesis showed a performance comparable to virgin terephthalic acid. He expressed optimism about the consistent quality of Circ's monomer output and anticipated future commercial success. Santos pointed out that the Circ partnership complements Selenis's existing mission and goals for a more sustainable textile industry. He further stated their anticipation of expanding upon this collaboration and providing support for Circ's forthcoming commercial production trials.
