Chicago | Reuters –– U.S. corn futures rose on Tuesday and soyoil futures climbed about four per cent on prospects for changes to the U.S. renewable fuels policy that could boost demand for corn-based ethanol and soy biodiesel, traders said. Both markets pared gains following a White House statement that no executive order was in […] Read more
U.S. grains: Corn, soyoil climb on biofuels news
White House denies Trump order on biofuels program
Reuters — The White House on Tuesday denied that U.S. President Donald Trump planned to issue an executive order to change the national biofuels program, after the U.S. Renewable Fuels Association (RFA) said Trump’s team had informed the group an order was pending. Trading in U.S. refinery shares, fuel futures and corn prices was turbulent […] Read more
U.S. ethanol sector pumped on Trump
San Diego | CNS Canada — “Building partnerships and growing markets” was the theme of the National Ethanol Conference in San Diego — a theme members of the U.S. Renewable Fuels Association (RFA) believe aligns well with an increased focus on national security and protectionist policies under new President Donald Trump. Speaking Tuesday, the head […] Read more
U.S. grains: Soyoil jumps on new U.S. biofuel targets
Chicago | Reuters — Chicago Board of Trade soyoil futures surged nearly seven per cent on Wednesday after the U.S. government released final requirements for biofuel use for next year, analysts said. The strength in soyoil lifted soybeans, but CBOT wheat closed lower and corn was narrowly mixed, pressured by a stronger U.S. dollar and […] Read more
U.S. ups biofuel requirements in win for Big Corn
New York | Reuters — The U.S. government on Wednesday announced finalized targets for biofuel use for next year, requiring that energy companies blend 19.28 billion gallons of renewables into the nation’s fuel supply. The Environmental Protection Agency (EPA) in a statement set the target for conventional biofuel, or ethanol, at 15 billion gallons and […] Read more
U.S. biodiesel executives plead guilty over fraud scheme
New York | Reuters — Two men pleaded guilty in a U.S. court on Wednesday to conspiracy, fraud and making false statements related to the U.S. government’s controversial policy designed to boost use of renewable fuels, according to court documents. The case comes in the last four weeks of a contentious U.S. presidential election campaign […] Read more
Trump biofuel proposals echo those of backer Icahn
New York | Reuters — Republican Presidential candidate Donald Trump on Thursday appeared to weigh into a debate over a controversial U.S. biofuels program with a proposal that would back the position of billionaire investor Carl Icahn, one of his wealthiest backers. In a factsheet on economic policy, the Trump campaign slammed a system of […] Read more
Clinton campaign studying alternative to U.S. ethanol mandate
Washington/San Francisco | Reuters — Democratic U.S. presidential candidate Hillary Clinton’s campaign has solicited advice from California regulators on how to revamp a federal regulation requiring biofuels such as corn-based ethanol be blended into the nation’s gasoline supply, according to campaign and state officials. The move is the clearest sign yet that, if elected, Clinton […] Read more
Report finds ethanol, bioenergy no threat to food security
New York | Reuters — Bioenergy produced from crops does not threaten food supplies, researchers funded by the U.S. government, World Bank and others said in a report Tuesday, dealing a potential blow to critics of the country’s biofuels program. There is no clear relationship between biofuels and higher prices that threaten access to food, […] Read more
Crude’s slide hampers demand for Canadian biofuel
CNS Canada — The trickle-down effect of slumping crude oil prices is being felt in the Canadian biofuel market and softening demand for corn and soybeans. Traditionally, ethanol is cheaper than gasoline, which encouraged processors to blend more than the mandated amount, according to Andrea Kent, president of the Canadian Renewable Fuels Association (CRFA). “When […] Read more
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