Boozman Releases Farm Bill Outline That Includes SAF, Biorefining Provisions

Jun 14, 2024

By Erin Voegele

Sen. John Boozman, R-Ark., ranking member of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, on June 11 released an outline of the Senate Republicans’ version of the 2024 Farm Bill. The outline includes several provisions that support the biorefining and sustainable aviation fuel (SAF) industries.

The Energy Tile of the 2024 Farm Bill summary released by Boozman includes language directing the USDA to establish a strategy for advancing the production of SAF and clarifies that SAF is an eligible technology under the USDA’s Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Program (Section 9003 loan guarantee program).

The legislation also includes provisions that aim to increase transparency and provide certainty to 9003 program applicants by establishing a technical review agreement that specifies clear outcomes and timelines that applicants need to achieve in order to secure funding. In addition, it also restores a grant component to the program to develop, construct or retrofit pilot or demonstration-scale biorefineries.

The bill aims to improve the Rural Energy for America program by increasing the eligible project size to $50 million; increasing the federal cost share to 50%, creating a new covered rebate pilot program to meet immediate producer needs incurred outside the application period; making grants available to organizations that provide technical assistance to producers and rural small businesses applying for REAP awards; and requiring a simplified application process for projects less than $50,000.

Additional provisions set to be included in the bill aim to strengthen the BioPreferred program by increasing the number and volume of biobased federal procurement contracts; directing the agency to consider increasing the minimum biobased content for each designated product category by up to 5% every five years; strengthening reporting of biobased products that are purchased through online federal procurement systems; and directing the U.S. Commerce Department to develop North American Industry Classification System (NBAICS) product codes for biobased products.

The Farm Bill is a package of legislation that is normally passed every five years. It covers a wide range of programs, including crop insurance, nutrition programs and programs that support bioenergy initiatives.

Click here to see more...

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
U.S. supreme court could rule against Trumps tariffs, but the Trump administration does have a plan B.
U.S. government shutdown is now the longest in history at 38 days.
But despite a U.S. government shutdown we will be getting a USDA November crop report next Friday and it could be “game changing.” If the USDA provides a bullish surprise with lower U.S. corn and soybean yields and ending stocks that are lower than expected both corn and soybean futures will break out above their ceilings at $4.35/bu and $11.35/bu respectively.
The funds continued their selling in live and feeder cattle futures on continued fears that the Trump administration want to lower U.S. beef prices. The fundamentals have not changed, only market psychology has.
Stocks markets continue to worry about a weak U.S. job market, but you can blame ChatGPT for that. In the future, we will have a more efficient, productive and growing economy with a higher unemployment rate until we have more skilled AI workers.
After 34 new record highs in the S & P 500 and 124 new records in the NASDAQ in 2025 we are back to a correction and investor profit taking as AI valuations may have gotten too stretched near-term ahead of NVDA’s 3rd quarter earnings announcement on Nov. 19th. But this is not an AI bubble.
75% of Tesla shareholders approved a $1 trillion pay package for Elon Musk!
It has rained in South America in the last 7 days, but both the American and European models agree that Central Brazil remains dry in the next 14-days!

Brand-New 210 Baler from Marcrest

Ontario’s new ag minister is ready to get to work