Iowa farmers slammed the Trump administration's plan to alter biofuel-blending quotas, saying it would undermine demand for corn-based ethanol and soybean-based biodiesel. Farmers speaking on a conference call said the Environmental Protection Agency's plan unveiled Tuesday, Oct. 15, falls short in the way it changes targets for blending biofuel into petroleum-based fuels under the Renewable Fuel Standard.
The Trump administration took steps Tuesday, Oct. 15, to implement a hard-fought deal meant to ensure biofuel quotas are not undermined when oil refineries are exempted from requirements compelling them to use ethanol and biodiesel. The Environmental Protection Agency proposed changes in the way it sets annual percentages spelling out how much renewable fuel refiners must blend into gasoline and diesel. The agency is seeking public comment on a plan to project the amount of exemptions based on the most recent three years' practice — and then use that to adjust its calculations.
Corn futures slumped after the U.S. Department of Agriculture delivered a production forecast that was bigger than analysts expected as plants have been able to do relatively well despite a delayed growing season.
U.S. farmers and agribusinesses face a rising threat of long-term losses in export sales as President Donald Trump's trade war with China continues, Boston Consulting Group warned in a report. The finding by a blue-chip management consulting firm could feed mounting fears among major U.S. agricultural players that the damage done from a tariff war that has already dragged on for more than a year will extend long after a deal is reached and a $28 billion trade aid program for farmers ends.
It's scary news for bacon fans: The U.S. could see tight supplies, or even some shortages of pork bellies along with ham next year as the spread of a pig-killing disease in China ripples through the global market.
President Donald Trump has long said he loves farmers. And farmers have seemingly loved him back, even as the trade war with China rages. Ethanol policy was the one area that was starting to test that love, but a new plan announced by the administration may have helped resolve the issue.
The Trump administration is taking action to boost U.S. demand for corn-based ethanol and soybean-based biodiesel, as the president seeks to temper criticism from farmers and Midwest politicians before next year's election.
Chinese firms have been snapping up U.S. soybeans this week, but don't mistake this as a sign of buyer confidence in upcoming trade talks. The companies, which received a fresh 2 million-ton quota from Beijing to import American beans free of retaliatory tariffs, have been seeking soy every day so far. That's likely because they want to rush through orders in case the talks fail and imports are halted, said Darin Friedrichs, a senior analyst at INTL FCStone's Asia commodities division.
WASHINGTON - Headquartered in a nondescript office building in Washington, the U.S. Department of Agriculture's Economic Research Service churns out papers with such scintillating titles as "Cotton and Wool Outlook: September 2019." The ERS, as it's often called, is the kind of government bureaucracy few can identify but millions rely on for their livelihoods.
President Donald Trump sought to prod China into doing a trade deal before the U.S. presidential election in November 2020, or face even more difficult negotiations during his potential second term. "Think what happens to China when I win," Trump said in a tweet on Tuesday. "Deal would get MUCH TOUGHER!" Trump said in his tweet that the U.S. is "doing very well in our negotiations with China," without offering any specifics. He said he's certain China would "love to be dealing with a new administration." The tweet comes as Chinese and U.S.