Farm Belt howls as EPA proposes no-growth biofuel mandate for 2020
The Trump administration proposed a Renewable Fuel Standard of 20.04 billion gallons for 2020, meaning no change in corn ethanol’s share of the gasoline market for cars and light trucks, while the share of that market going to cleaner-burning cellulosic ethanol, made from grass and woody plants, will increase by 120 million gallons.
World lacks drive to reform agricultural supports
More than $500 billion is spent annually around the world on “often ineffective and trade-distorting support to farmers,” says the Organization for Economic Cooperation and Development.
TODAY’S QUICK HITS
Stampede for pea powder (Financial Times): There’s no shortage of yellow peas but processors can’t keep up with demand for the protein powder extracted from the pea for use in plant-based meat substitutes.
Agriculture on the brink in Venezuela (New York Times): A fuel shortage has brought Venezuela’s agriculture industry to the brink of collapse, threatening more hunger in a nation still under U.S. economic sanctions.
High farmer approval of Trump (Farm Journal): In a straw poll, four out of five respondents approved of Trump’s job performance, a slight increase from a June 11 “Pulse” poll.
Data collection suspended for bee report (USDA): Citing inadequate funding, the National Agricultural Statistics Service said it would not collect quarterly data during July for the annual Honey Bee Colonies report, due for release Aug. 1.
First U.S. rice sale to China (Reuters): Sun Valley Rice, based in California, recorded the first-ever sale of U.S. rice to China. The sale of about 40 metric tons was for consumer and food service, said export promoter USA Rice.
ON THE CALENDAR
– The OECD and FAO release a 10-year outlook for agricultural and fish commodity markets at the national, regional and global levels, with sections on animal feed, biofuels and greenhouse gas emissions by agriculture, Rome.
– National Bison Association summer conference, through Tuesday, Bismarck, North Dakota.
– USDA releases weekly Crop Progress report, 4 p.m. ET.
– Biotechnology Innovation Organization hosts “World congress on industrial biotechnology and ag tech,” through Thursday, Des Moines.
– USDA releases monthly Crop Production and WASDE reports, noon ET. The reports will incorporate data from the Acreage report released on June 28, which showed larger than expected plantings of corn and smaller than expected soybean area.
– House Agriculture subcommittee hearing, “Building opportunity in rural America through affordable, reliable and high-speed broadband,” 10 a.m. ET, 1300 Longworth.