Biofuels
ASA says it fully supports year-round E15 ethanol but says social media backlash stems from confusion over SREs in House bill language as the measure heads to a tougher Senate fight.
The U.S. House approved legislation to allow year-round sales of E15 gasoline nationwide, aiming to lower fuel prices while facing pushback over potential refinery costs and the impact on the national debt.
Fresh analysis from FAPRI finds passage of year-round E15 would bring limited near-term gains to corn prices, while SRE changes would put pressure on farm income and negatively impact soybeans.
After passing the House 224-200, the farm bill is headed to the Senate, where SNAP funding could be another problematic topic.
EPA’s Set 2 RFS rule drives a surge in biofuel demand while also boosting feedstock markets. Matt Upmeyer with Montana Renewables explains why it could spark major gains for U.S. agriculture.
The RFS Set 2 rule is projected to increase net farm income by $4 billion and create a $31 billion market for corn and soybean oil while supporting 100,000 new rural jobs.
President Trump said, while speaking to reporters at a cabinet meeting on Thursday, U.S. farmers had been mistreated by some countries.
The nation’s farm groups are pushing for increased demand through biofuels and trade.