crop report from the U.S. Department of Agriculture confirmed that farmers are expected to harvest a record corn crop of 16.8 billion bushels (an increase over August's estimate) and prices are projected to fall to six-year lows. The supply of corn following this year’s harvest is expected to significantly overwhelm demand, leaving 2.1 billion bushels of surplus. This report again underscores the urgent need to quickly open and expand markets for corn, including removing unnecessary barriers that constrain market opportunities for ethanol, the Renewable Fuels Association said.
“The severe financial distress facing America’s farmers today is directly linked to the outdated and irrational policy barriers that are blocking larger volumes of ethanol from entering the marketplace,” said RFA President and CEO Geoff Cooper. “Unless Congress and the Trump administration take immediate action to open the market to larger ethanol volumes, farmers could be headed for the worst economic crisis since the early 1980s.
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