EPA’s Proposal to Reduce the RFA Ethanol Blending Requirement

VeriMARK logo(F)On November 15, The Environmental Protection Agency (EPA) proposed for public opinion for 60 days a reduction in the Renewable Fuel Standard (RFS) to 15.21 billion gallons of which “corn based” ethanol would be reduced from 13.8 billion gallons to 13.0 billion gallons, a reduction of roughly 6 percent. This comes at a time when the United States is dealing with a record harvest where the carryout is forecasted to be in the range of 2 billion bushels, a sizeable increase from the 2012-13 carryout of 824million bushels. This increase in carryout’s has put the corn markets under pricing pressure with cash corn flirting with $4.

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