As farmers work to make up any lost revenue, they are looking to the EPA and the President’s past support of biofuels.
The American Soybean Association says if a higher renewable volume obligation is not secured soon, there could be a surplus of soybeans in the coming years. Sales of U.S. beans to overseas buyers have fallen nearly 80 percent below the five-year average in recent weeks.
In a statement to Bloomberg, the EPA says they have already sent proposals to the White House and are just waiting for approval.
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The setback leaves the 2018 Farm Bill operating under its third consecutive extension. That authorization expires September 30.
The Senate Agriculture Committee’s failure to advance the bill means negotiations will continue as lawmakers look for a path forward before the end of the year.
Sen. Roger Marshall says Democrats rejected legislation over SNAP provisions despite bipartisan farm priorities.
Sen. Jerry Moran of Kansas discussed the Senate Agriculture Committee’s Farm Bill markup on Thursday and the key issues shaping negotiations.
