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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Crop margins remain the key pressure point.
Corn and soybean shipments continue to move at a steady pace as spring trade flows develop.
Reported results include stronger in-season nitrogen response, average yield gains of more than seven bushels per acre and more than $18 per acre in net return.
Acreage shifts could impact pricing and marketing plans.
Strong exports continue to support corn despite larger supplies.
Export growth remains key for grain profitability.
