The biofuels industry is planning a corn ethanol defense strategy for President Obama’s trip to Iowa next week following disappointing corn yield estimates released Friday.
Agriculture Department predictions for corn supplies came in lower than expected in its biannual review. The 123.4 bushels per acre yield projected Friday is the lowest since 1995, and the anticipated 10.78 billion bushel haul would be the lowest since 2006.
Monte Shaw, executive director with the Iowa Renewable Fuels Association (RFA), said his group will be out in front of the renewable fuel standard (RFS) issue when Obama comes to town.
"Our goal is to see where we can put in some factual information," Shaw told E2-Wire on Friday. He said enough flexibility exists in the RFS to mitigate price concerns from low corn yields.