The total blend of ethanol in the fuel supply in 2016 is about 10.1 percent based on the ethanol volume of 14.5 billion gallons. If set at 9.7 percent as proposed in the Flores-Welch bill, however, the volume obligation for ethanol would be 13.86 billion gallons.As a follow-up to last Friday’s report on the 2017 Renewable Fuel Standard (RFS), the petroleum industry’s noted push for a Required Volume Obligation (RVO) of 9.7 percent of the total fuel supply is based on newly proposed legislation, the Food and Fuel Consumer Protection Act, sponsored by Representatives Bill Flores (R-Texas), Peter Welch (D-Vermont), Jim Costa (D-California) and Robert Goodlatte (R-Virginia). This bill would require the following:
The EPA administrator...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...