The Renewable Fuels Association is also concerned with the record corn crop, calling this month’s WASDE report a wake up call.
“Demand is not keeping up with the corn supply, period. And we knew that was a problem heading into harvest. And then, of course, we saw these huge numbers printed yesterday by USDA, and we think that should serve as a wake-up call to both Congress and the administration,” said RFA’s Geoff Cooper.
Cooper is calling on Congress to remove the regulatory barriers to higher ethanol blends. He also wants to see updates to pump labeling, saying just a little work could open the gates for U.S. ethanol.
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Iowa Congressman Randy Feenstra says the proposal would allow retailers to decide whether they want to offer E15 year-round.
Lewis Williamson with HTS Commodities discusses late-season planting progress, market fundamentals heading into summer, and the influence of biofuel policy on grain demand.
Corn exports are strengthening the trade outlook, but lower soybean movement and weaker demand from China remain major concerns.
Higher domestic ethanol blending supports corn demand even as weekly production and export volumes decline.
