NCGA: EPA Snubs Consumers & Farmers on RFS.

Jun 01, 2015

From National Corn Growers Association www.ncga.com

The following is a statement from Maryland corn farmer Chip Bowling, president of the National Corn Growers Association, in response to today’s announcement by the U.S. Environmental Protection Agency (EPA) of proposed renewable volume obligations under the Renewable Fuel Standard.

“Once again, the EPA has chosen to ignore the law by cutting the corn ethanol obligation 3.75 billion gallons from 2014 to 2016. This represents nearly a billion and a half bushels in lost corn demand. The only beneficiary of the EPA’s decision is Big Oil, which has continuously sought to undermine the development of clean, renewable fuels. Unfortunately, the EPA’s gift to Big Oil comes at the expense of family farmers, American consumers and the air we breathe.

“The Renewable Fuel Standard was working as intended, with no need to change. It has reduced greenhouse gas emissions, decreased our reliance on foreign oil, lowered gasoline prices for consumers, increased economic stability in rural America and spurred innovation in advanced and cellulosic biofuels.

“We are evaluating our legal options for defending the law and protecting the rights of farmers and consumers. We will fight to protect and build profitable demand for corn, which is of fundamental interest to NCGA and our farmers.”

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!

USDA restarts Biomass Crop Assistance Program

International Year of Soils: June 2015