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The U.S. ethanol industry's big moment is here, as the U.S. House prepares to vote on legislation to allow higher blends of the corn-based fuel, better known as E15. 

U.S. phosphate prices may already be beyond their low point for 2026, a fertilizer analyst said Tuesday.

In its first estimates for the 2026-2027 marketing year, the Agriculture Department is anticipating a steep drop in U.S. wheat supplies, as well as a drop in corn, but higher prices for both corn and soybeans as demand for biofuels grows. 

The Consumer Price Index rose 3.8% in April, driven in part by an increase in grocery prices, which jumped 0.7% last month after remaining steady in March. Beef prices were up 2.7% and fruits and vegetables jumped 1.8%.

The Trump administration said Tuesday it is “fine-tuning” its planned executive actions to boost beef imports and support efforts to expand the domestic cattle herd.

The leading U.S. phosphate producer said Monday that it would reduce its domestic production over surging prices for sulfuric acid, a critical input, further denting the administration’s push to lower fertilizer prices and grow domestic supplies.

The cost and availability of fertilizer will be scrutinized at a Senate Ag Committee hearing on Tuesday. It’s the latest attempt by Washington officials to get a stronger grasp on what’s behind higher prices for crop nutrients and how to make the U.S. less reliant on foreign fertilizer markets. 

Rail giants Union Pacific and Norfolk Southern are once again seeking Surface Transportation Board approval to merge into the nation’s first coast-to-coast railroad company, submitting a more than 7,000-page proposal that seeks to assuage past agency concerns about the completeness of their plan.