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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Allowing year-round sales of E15 nationally could deliver billions in economic gains, according to a new study from the Renewable Fuels Association and National Corn Growers Association.
Year-round sales of E-15 are another major topic on Capitol Hill, which, according to Rep. Adrian Smith (R-NE), is one issue up for debate this session with significant bipartisan support.
U.S. producers are holding off on equipment investments amid financial pressure, market uncertainty, a rising demand for diesel, and growing desperation for trade wins.
With new renewable volume obligations announced this year, the Iowa Soybean Association says they’ll be vital to a farmer’s bottom line.
Pressure to lower gas prices across the Golden State could be the saving grace of this year’s corn harvest. California may soon be the final U.S. state to approve E-15 sales.
