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Nat'l Biodiesel Board Issues Statement On Senate's RFS Meeting

The National Biodiesel Board released the following statement from Vice President of Federal Affairs Anne Steckel Thursday after White House adviser John Podesta briefed a group of Senate Democrats on the pending proposal for biodiesel under the Renewable Fuel Standard (RFS):

"While we are encouraged by these discussions, the biodiesel industry remains concerned that the Administration still appears to be considering a proposal that would backtrack from last year's proven production and that threatens biodiesel plants around the country. The fact is that biodiesel is the most successful Advanced Biofuel under the RFS, yet it could see its production cut significantly.

This meeting, which was originally requested by a diverse group of 14 Democratic senators from across the country, makes clear that there are serious concerns about the impact that the proposal would have on jobs and economic growth nationwide, in states from Rhode Island to Minnesota to Washington state.

This is a critical decision, not just for the biodiesel industry but for the future development of clean, American-made renewable fuels that will help us reduce our dangerous dependence on petroleum. We want to thank all the senators who organized this meeting, and particularly Sen. Franken and Sen. Heitkamp for their leadership."

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USDA Crop Reports/Trade Deals a Bust + Monster U.S. Corn Crop = Lower Prices

Video: USDA Crop Reports/Trade Deals a Bust + Monster U.S. Corn Crop = Lower Prices


StoneX projects a monster U.S. 2025 corn yield at 186.9 bpa, while the USDA provided no big surprises in the July crop report. A lack of U.S. trade deals/ag purchase agreements after 3-months but rather an escalation/threat in tariffs with 30% to Japan, 25% on South Korea, 35% for Canada and 50% for Brazil/copper is weighing on fund ag sentiment.

Regardless, funds after 3 years continue to chase and pile into Bitcoin ETF’s and the AI trade with NVDA both at new all time record highs and NVDA hitting the $4 trillion market cap first.

U.S. weather remains non-threatening for July and dry areas of Northern Illinois are getting rain.

Western Canada is expected to get periodic rains every 3-4 days with no excessive heat, but farmers are complaining that the rain chances very seldom materialize.

U.S. border to Mexican feeder cattle closes again to screwworm and should remain closed but this combined with new U.S. tariffs for Brazil means less supplies and a continuation of the bull market in cattle.