iStock: photosbyjim Higher corn prices are roiling the U.S. ethanol industry, but the full impact of the corn price spike might not be felt for weeks. The Renewable Fuels Association (RFA) recently estimated that about two dozen of the 200 ethanol plants in the U.S. are idled and another two dozen have reduced their production rates. Additionally, Scott Richman, chief economist for the RFA, noted, “The corn market started moving higher a month ago and has spiked over the past couple of days.” With the higher prices of corn and the worsening impact of the pandemic on fuel consumption, ethanol plant margins turned negative in early December, he said, and had recently started to return to break-even levels when the most recent corn price spike hit. “This latest move in the corn rally will likely have a negative impact on margins,” he stated.
EPA could approve 2019 SREs this week : Biofuels Digest biofuelsdigest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biofuelsdigest.com Daily Mail and Mail on Sunday newspapers.
The U.S. biofuel industry expects the outgoing Trump administration to approve most of the waiver requests it has pending from the oil refining industry for 2019, three sources familiar with industry discussions said.
by Jennifer Shike (Farm Journal Ag Web) With just eight days left in EPA Administrator Andrew Wheeler’s term, president and CEO of the Renewable Fuels Association (RFA) Geoff Cooper told AgriTalk’s host Chip Flory on Tuesday that he’s not surprised by reports that EPA may grant some waivers to oil refiners that would exempt them from requirements to blend biofuels into their fuel mix for the 2019 compliance year.
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The worst-case scenario right now would be EPA trying to grant all of those exemptions or the lion’s share of them, Cooper said. If that happens, the industry expects another 1.5 billion RINs returned to refiners which would flood the RIN market and torpedo prices.
(Adds details on Congressional letter, senator conversation)By Stephanie Kelly and Jarrett RenshawNEW YORK, Jan 13 (Reuters) - The U.S. biofuel industry expects the outgoing Trump administration to approve most of the waiver requests it has pending from the oil refining industry for 2019, three sources familiar with industry discussions said.