Big questions remain over how a Joe Biden administration might administer the nation’s biofuel law, the U.S. Renewable Fuel Standard (RFS), and the stakes are high for both the farming and oil refining industries.
President-elect Joe Biden has pledged to work more closely with U.S. allies in confronting China on trade, and is seen as unlikely to roll back his predecessor’s tariffs.
Bayer writes down farming assets by 9.25 billion euros, faces increase in Roundup settlement of $750 million, and chalks up 2.7 billion euro net loss (Adds shares, analyst comment, Q3 net loss).
COVID-19 outbreaks are increasing governments’ food-security concerns, and importers need U.S. corn and soybeans for the first time in a long time to meet demand.
