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Iowa GOP Hopeful Wants Higher Ethanol Mandate

By Timothy Cama

Iowa Republican Senate candidate Joni Ernst asked the Environmental Protection Agency (EPA) Tuesday to increase the amount of ethanol and biodiesel refiners must use, a day after she was accused of not supporting the mandate that is popular among Iowa farmers.

The EPA has proposed to reduce the volume of ethanol that must be blended into gasoline this year, while keeping the biodiesel mandate the same under the Renewable Fuel Standard (RFS).

“As you know, the RFS ensures our national fuel supply provides increased consumer choice, less dependence on foreign oil, improves the environment, and creates jobs for those in my home state of Iowa — and across the country,” Ernst wrote to EPA head Gina McCarthy.

Ernst’s letter came a day after progressive group Americans United for Change launched an advertising campaign accusing her of being close with the oil industry and not supporting the RFS. She will be the subject of a fundraiser this week that includes representatives from the political action committee of Exxon Mobil Corp., which wants the RFS eliminated.

Renewable fuels enjoy strong support in Iowa due to the prominence of the agriculture there.

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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.