Global trade had a record year in 2022, growing 10 percent above the 2021 level. For the U.S., the growth just was in its major bulk commodities, wheat, corn and soybeans. Geopolitics has China redirecting its imports to South America, and food security concerns cause barriers in many countries. By contrast, the fastest growing global export is energy. In a similar vein, ethanol is seen as a major export growth outlet for the American corn grower.  Ethanol exports started to rebound in 2022 from COVID-related lows and more governments are looking to create their own biofuel mandates, both to reduce their own fossil fuel dependence and support local farmers. India, which has traditionally fretted about food security, has just met its 1...

TAGS – Biofuels, India, North America