WASHINGTON, D.C. (RFD NEWS) — Diesel prices are still hot, and oil markets remain volatile. As of Monday morning, WTI crude is over $100 dollars a barrel, the highest level in nearly a week. And as each day goes on, diesel is nearing the heights we saw back in 2022. AAA shows that diesel in June 2022 peaked at $5.81 per gallon, and right now the average price is around $4.81 per gallon. One month ago, that same gallon cost you $3.75.
Despite high prices hitting operations in the spring season, farmers and ranchers largely praise the Trump Administration’s recent moves to shore up the industry. During his gathering with farmers at the White House on Friday, President Donald Trump announced a list of items he hopes will boost farm incomes and reduce input costs.
USDA Secretary Brooke Rollins shared the stage with President Trump during the event. She agrees, saying the administration is zeroed in on saving family farms. “I believe this president will be remembered — and our administration, with [HSS Secretary] Bobby [Kennedy], and with [SBA Administrator] Kelly [Loeffler], who are all here, my best friends from the cabinet — as the moment in American history where we reversed the trend, where we stopped losing family farms, where we fought for rural America because this is the very, very best of who we are.”
After the event, Rollins took some time to hop into a special-edition Case IH tractor and drive it through Washington, D.C. The special machine is named “Freedom 250,” in honor of America’s 250th birthday this year.
There was a lot on the agenda for the event, so let’s recap what was announced:
Finalized Renewable Fuel Standard (RFS) Volumes
Trump unveiled the long-awaited biofuel blending requirements, which officials say are the highest levels in the program’s history, but still in line with prior expectations. He also instructed the Environmental Protection Agency (EPA) to loosen emissions requirements, particularly with DEF fluid, saying those sensors are hurting farmers when they need their equipment the most.
The Renewable Fuels Association (RFA) says the move could support the farm economy and strengthen U.S. energy security. RFA President Geoff Cooper joins us on Monday’s Market Day Report to give his take on the blending rules and what more bio-based diesel could mean for feedstock growers, and his perspective on the final rule.
In his interview with RFD NEWS, Cooper discussed his initial reaction to the new blending requirements and outlined what the rule entails. He said the updated volumes provide clarity for farmers, ethanol producers, and oil refiners, and spoke to the potential benefits moving forward.
Cooper also addressed whether there were areas where the rule may fall short and shared his thoughts on the timing of the announcement, as consumers look for relief at the pump and farmers seek new demand opportunities.
Ethanol production has been moving higher in recent days.
New data analyzed by the Renewable Fuels Association shows output rose 2.1 percent last week, landing at around 1.1 million barrels per day. Equivalent to nearly 47 million gallons. That’s up about 6 percent from a year ago and above the three-year average for the week. Inventories also increased, climbing 2.9 percent to 27.2 million barrels, which is the largest weekly level in a year.
Meanwhile, gasoline demand rose 2.2 percent, while ethanol exports fell sharply to a 10-week low.
Biofuel Blending Announcement and E15 Summer Sales
Biofuel policy took center stage at last week’s Celebration of Agriculture on the White House South Lawn, where Donald Trump highlighted a newly issued waiver allowing summer sales of E15 and called for congressional action to make the policy permanent.
In remarks during the event, Trump said he is working with lawmakers to secure year-round E-15 sales, noting efforts to reach a deal that supports farmers, consumers, and refiners. Following the event, the EPA released newly finalized Renewable Fuel Standard volume obligations, setting blending requirements at the highest levels to date.
Several ag groups have weighed in on President Trump’s latest push to make farmers whole. Biofuel groups are responding to newly finalized Renewable Fuel Standard (RFS) volumes, which mark the highest levels to date. Chris Bliley, Senior Vice President of Regulatory Affairs with Growth Energy, joined us on Monday’s Market Day Report to discuss the announcement and its implications for the ethanol industry.
In his interview, Bliley shared his immediate reaction to the increased blending requirements and discussed what is being described as a historic expansion for ethanol producers. He also addressed how the new RVO levels could translate into additional revenue for the industry and whether there were areas where the rule may fall short.
Bliley also spoke about the EPA’s emergency waiver allowing summer sales of E-15, highlighting its timing as consumers look for relief at the pump. He noted that while the waiver is welcome news, there remains a strong desire for a permanent, year-round solution.
Grocery Guarantee Program
And farmers could soon have access to more capital with the announcement of a Grocery Guarantee program. The Small Business Administration (SBA) says it will back 90 percent of a loan to certain borrowers. Those borrowers must be small businesses in the supply chain, such as producers, grain handlers, elevators, or processors.
The goal is to allow those small businesses to expand capital. And with the government backing most of those loans, banks should be more willing to lend.
SBA Administrator Kelly Loeffler says this creates the opportunity for more domestic food production.
Finalizing a Farm Bill and “Product of USA” Labeling Campaign
As the Trump Administration continues its efforts to support farmers and ranchers, the president also called on Congress to finish a Farm Bill, saying his team is pushing hard to see one cross the finish line this year.
At a White House event on Friday, President Trump also outlined several policy changes, including the U.S. Department of Agriculture’s latest move on food labeling.
“We recently announced a brand-new food label. It’s ‘Product of the USA,’” Trump said. “When Americans see those words in grocery stores, they’ll know that it was raised and processed by the greatest farmers and ranchers anywhere on the face of the earth. You are the greatest, nobody even close.”
Honoring The Hard Work of U.S. Farmers and Ranchers
RFD Network’s Kirbe Schnoor attended the event on the White House lawn, where she caught up with Amanda Radke, a fifth-generation rancher who came all the way from South Dakota, who says she feels Trump is looking out for smaller farms and ranches.
“We’ve lost hundreds of thousands of [small farms and ranches] through consolidation and terrible regulations over the last generation,” Radke said. “And this push to keep farmers on the land, doing what they love to do to keep this nation free and fed, is so exciting. And I’ve spent a lot of time in D.C. in the last year, really advocating for property rights and making sure we have the ability to own and manage our land and livestock as we see fit, and I think we’re seeing some open-door policies here to get that done.”
Schnoor also spoke with Western industry leaders about what the president’s recognition means to them, including JJ Gottsch, president of the Austin Gamblers PBR team. If JJ’s last name, Gottsch, sounds familiar, well, that’s because he is the cousin of our late founder, Patrick Gottsch. He told Kirbe Schnoor that it is exciting to see the American cowboy being honored.
“Well, when you talk about agriculture and the cowboy, that’s the fabric of America,” Gottsch said. “And there’s no better representation of that than bull riders in the PBR and what these guys do on a daily basis, and the President recognizes that. So, be able to be part of this today, to be able to be part of this celebration on the South lawn at the White House, again, it’s just a great day to be here and just proud to celebrate and represent the PBR and the Austin Gamblers.”
Gottsch says the president understands that Americans love the sport.
