The U.S. Department of Agriculture reported today that American farmers are expected to harvest a record-large corn crop of 16.7 billion bushels this fall, while the corn surplus is projected to rise to its highest level in eight years and prices are set to sink to six-year lows. According to the Renewable Fuels Association, today’s USDA report clearly highlights the urgent need to remove artificial regulatory barriers that are undercutting demand and constraining market opportunities for both corn and ethanol.
“Alarm bells are ringing across rural America following today’s USDA report, and they should be ringing in the halls of Congress,” said RFA President and CEO Geoff Cooper, noting that this year’s crop is forecast to be nearly 2 billion bushels larger than last year’s crop.
“Our nation’s farmers are doing their job—they are sustainably and efficiently producing the largest corn crop in history. But antiquated policies and regulations—like the summertime prohibition on E15, outdated pump labeling obligations, and needless equipment certification requirements—are stifling demand and failing America’s farmers.”
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