Supply

Corn slides again, extending recent losses

Corn futures slumped again Tuesday, extending a recent slide brought on by expectations of a huge crop this year.

Corn for December delivery fell 6.5 cents to $3.82 a bushel.

Aviation, marine industries boost biofuel demand

Source: 
FuelFix

Navigant Research said in a report that marine and aviation industries have been expanding their use of biofuels in recent years and projected that biofuels will make up 6.1 percent of the aviation fuel market by 2024, FuelFix reports.

Corn falls as favorable weather continues

NEW YORK (AP) — The price of corn fell to its lowest in almost four years on Monday as favorable weather conditions for the crop persist in the Midwest.

Corn for delivery in September fell 9 cents, or 2.2 percent, to $4.06 a bushel, its lowest price since August 2010. As recently as April 29, corn was trading at $5.22.

The price of corn has slumped in the last two months as the right combination of sun, rain and moderate summer temperatures has boosted the chances of a record crop this year. U.S. corn is currently entering its pollination stage, a critical point of its development.

Michael Bonfigli/The Christian Science Monitor Photo

McCarthy: No target date to finish RFS levels for 2014

Environmental Protection Agency Administrator Gina McCarthy on Wednesday said there is still no target date to issue final Renewable Fuel Standard biofuels requirements for 2014.

"I'm hoping to get that out soon," she said when asked about the status of the 2014 RFS proposal. "I know that people are concerned about it. I also know that there was a ton of comment on our proposal and we need to get this right," McCarthy added.

RFS extension may boost Braley in Iowa race

Source: 
E&E

The EPA's decision to extend its deadline for refiners to meet 2013 Renewable Fuel Standard requirements will delay the agency's rule for 2014 levels until late summer, a development that could help Rep. Bruce Braley, D-Iowa, in his bid for the Senate, E&E reports.

Senate Democrats

Durbin: Biodiesel jobs at risk under EPA biofuels proposal

The Obama administration's proposal for biodiesel fuel use in 2014 will be "disastrous" for the industry if it goes into effect, the Senate's second-ranking Democrat said Wednesday, calling on regulators to reverse course in the name of jobs.

Sen. Dick Durbin of Illinois, the chamber's majority whip, joined other senators to renew pressure on the White House and the Environmental Protection Agency to raise biofuels mandates under the Renewable Fuel Standard when it finalizes 2014 levels next month.

USDA Photo

Market realities force EPA to cut 2013 cellulosic biofuel mandate

The Environmental Protection Agency on Tuesday rolled back its mandated use of non-corn cellulosic biofuel in gasoline to under 1 million gallons, a fraction of the levels it previously finalized for 2013 under the Renewable Fuel Standard.

Last August, the EPA set the amount at 6 million gallons before agreeing to reconsider the target at the behest of the American Petroleum Institute and the American Fuel and Petrochemicals Manufacturers. Administrator Gina McCarthy revised the requirement to 810,185 ethanol-equivalent gallons in light of lower-than-expected production last year.

USDA Photo

More E85 locations, EIA reports, but growth slows

The availability of 85 percent ethanol for use in cars that can take the biofuel blend has grown rapidly over the past six years, notably outside the industry's traditional base in the Midwest, the Energy Information Administration reported Friday.

EIA said about 2 percent of all gas stations sold the blend, known as E85, by the end of last year. That's more than double the number of retail outlets since the first state data was gathered in 2007, although growth has slowed in the past two years.

The fuel can be used in about 5 percent of U.S. vehicles.

Farm bill wins praise from biotech industry group

Source: 
Domestic Fuel

The five-year farm bill signed by President Obama today won the praise of the Biotechnology Industry Organization, which said the bill benefits the industry by defining renewable biochemicals, Domestic Fuel reports.

U.S. imported record biodiesel supplies in December

Source: 
Platts

Biodiesel imports soared last year as refiners took advantage of a blending tax credit that ended on Dec. 31, Platts reports.

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