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Shining Light on Farm & Food Policy for 20 Years.
Friday, April 19, 2024
A policy-driven boom in U.S. renewable diesel demand that’s been underpinning much of the farm economy is showing signs of slowing as production exceeds the government’s usage mandates, but industry officials hope a new tax credit and a big new potential market in Canada will help put some sizzle back in the market.
Producers of renewable diesel and biodiesel are facing a “serious headwind” after the Environmental Protection Agency set usage mandates so low that they’re restraining demand for the biofuels, according to Donnell Rehagen, CEO of Clean Fuels Alliance America.
While some farmers are likely to see negative net cash farm incomes this year, many should have cash reserves from strong recent years to help carry them forward, a top ag economist says.
Kailee Tkacz Buller has been named the first female to serve as president and CEO of the National Oilseed Processors Association, filling the vacancy left by the departure of longtime leader Tom Hammer.
Global demand requires that the world add more than 20 million acres to crop production over the next five years, agricultural economist Dan Basse told attendees of the American Seed Trade Association’s annual field crop convention in Orlando Wednesday.
The USDA’s Economic Research Service on Thursday lowered its forecast for U.S. agricultural exports in fiscal year 2024 to $169.5 billion. That’s down $2.5 billion from USDA’s previous forecast in August and down $9.2 billion from exports in FY 2023.
Leaders of U.S. agribusiness giants expect the farm economy to remain relatively strong through next year despite higher interest rates and softening commodity markets.
Renewable diesel isn’t just the hottest biofuel on the market, it also is swiping a significant slice of corn ethanol’s share of the Renewable Fuel Standard, according to EPA.
House Republican leaders are looking to get their agenda back on track after a group of hard-line conservatives angry over the debt ceiling agreement effectively brought action in the chamber to a halt last week.
