JEFFERSON CITY — If you’re reading Missouri Corn’s email updates, you know talks over the Renewable Fuel Standard (RFS) took center stage at this year’s Commodity Classic. News broke the White House was in talks with the ethanol industry, oil industry and key senators on possible RFS changes being shoved forward by the oil industry. This set the stage for intense discussions and a hard pushback from corn growers.
Based on word from the White House meetings, growers felt the need to further solidify their position regarding the RFS and the Renewable Identification Number (RIN) mechanism allowing the policy to work in the marketplace. During Corn Congress, 124 delegates representing 28 states delved into the debate and voted to unanimously approve a “Sense of the Corn Congress” motion directed toward Trump. The motion stated:
“Whereas, the Renewable Fuel Standard has been a successful public policy for our nation’s energy security, the environment and rural America; and Whereas, the Renewable Identification Number component of the Renewable Fuel Standard is vital to the success of the RFS; and Whereas, RINs are the market mechanism that drives blending to obligated levels; and Whereas, any cap or other manipulation of the RIN program would disrupt that mechanism and diminish the related incentive to blend; and Whereas, farmers across the country are facing historically low prices and the farm economy is truly suffering; Therefore, we, the assembled voting delegates of the National Corn Growers Association, do ask President Donald Trump to retain the current RIN system without change.”
Our message to the Trump administration remains clear: keep your promise to support the RFS. A RIN cap at any value is wrong and weakens the RFS. According to Iowa State University, the scheme being pushed by U.S. Sen. Ted Cruz (R-Texas) would eliminate a 700-million-gallon market for biofuel and crash U.S. corn prices by as much as 25 cents per bushel. For Missouri corn growers, that means for every 250 acres of corn, you will be sending over $10,000 to the oil industry. Times are tough and will only get tougher if a RIN cap is put in place.Take action at www.mocorn.org/policy to make sure this doesn’t happen.
— Missouri Corn
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