Biofuels
The nation’s farm groups are pushing for increased demand through biofuels and trade.
At Commodity Classic, analysts say a slower rollout of EPA’s pending RVO decision, or even delayed clarity, could leave spring planting decisions hanging in the balance.
The proposed rule sets up farmers to participate in the opportunity created by these biofuel producer tax credits, but questions remain.
Monte Shaw with the Iowa Renewable Fuels Association says the president’s direction to Congress could be the game changer to pass E15 legislation after a decade-long fight.
Jamie Gieseke with Paradigm Futures says soybeans were also getting a push from South American weather, with wheat adding risk premium on U.S. weather concerns.
Preceding President Donald Trump’s visit to a Clive, Iowa, farm, several groups sent a letter asking him to support biofuels policy that would provide certainty for corn and soybean farmers.
During his trip to Clive, Iowa, Trump reaffirms support for year-round E15, backing corn growers and ethanol, while announcing John Deere’s expansion of two new domestic production and distribution facilities.
Soybeans and soybean oil saw a higher day on Tuesday driven by hopes President Trump would make a biofuels policy announcement regarding 45Z or the RVO proposal while speaking in Iowa after the market close says Naomi Blohm with Total Farm Marketing.
Geoff Cooper with the Renewable Fuels Association says it appears Congress is going to kick the can again on getting the E15 legislation done.