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 Farm Bureau urges trade enforcement, biofuel growth, fair input pricing, and pro-farmer policy reforms to restore long-term certainty.
Market analyst and friend of the show, Shawn Hackett, says Brazil’s shifting use of crops for biofuel production is a significant factor.
Chris Bliley with Growth Energy discusses ongoing concerns about U.S. ethanol exports and the expansion of market access promised under the Phase One deal between the U.S. and China.
Global agriculture is stabilizing after years of price swings, with flat to modestly rising returns expected as productivity offsets slower demand growth.
Industry leaders representing more than 40 nations gathered to discuss the future of ethanol and other corn-based products.
Bioethanol continues to gain ground as the bridge fuel connecting agriculture, aviation, and maritime industries in the global shift toward lower-carbon energy.
