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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Experts note that economic growth, fuel demand, and energy diversification are opening new opportunities for U.S. grain and ethanol exports in Southeast Asia.
USDA Secretary Brooke Rollins recently told senators that 45Z guidance remains a priority, while also reaffirming support for year-round E15.
Panama matters to agriculture as both a freight corridor and a potential future market for U.S. ethanol.
Ethanol and feed coproduct exports remain strong outlets for corn demand, even after April’s pullback.
