The future of ethanol and the outlook for the upcoming crop season were the focus of the South Dakota Corn annual meeting Saturday in Sioux Falls. Corn Utilization Council President Grant Rix says speakers focused on the markets and weather outlook. He says they’re excited about strong corn prices and hope to have favorable weather this season so they can meet the strong demand.
He says they’ll need strong corn prices to offset higher input costs, especially fertilizer.
Rix says they also looked at the future of ethanol with the administration’s push for electric vehicles. Economist Matt Roberts with consulting group Kernmantle says EV adoption will be slower than the politicians think and it just isn’t practical in many areas of the U.S.
Rix says they’re pushing the administration to recognize that biofuels are green and needed to bridge the gap to EV’s. However, recent reports indicate the EPA may try to back off of the proposed 15 million gallon Renewable Volume Obligations for ethanol in the Renewable Fuels Standard.
