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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Corn inspections remain strong year-to-date, while China’s soybean and sorghum movement remains important to late-season export demand.
USDA says both crops remain ahead of the five-year average as farmers continue monitoring dry Corn Belt conditions.
Corn exports remained active the week of May 7, but weak soybean, cotton, and sorghum sales kept attention on China and late-year demand.
Farmers will soon be asked to help shape some of USDA’s most closely watched crop and inventory reports.
