Please add the Governors' Biofuels Coalition to your address book for uninterrupted delivery
View this email in a web browser.
Governors' Biofuels Coalition
NEWS UPDATE February 24, 2020

Top Story

America’s Own Numbers Cast Doubt on Trump’s China Farm Deal

By Isis Almeida, Bloomberg  •    •  Posted February 23, 2020

It’s either going to be a boom fourth quarter for U.S. farmers, or that extra $12.5 billion in American agriculture purchases promised by China for this year isn’t happening. That’s what the U.S. Department of Agriculture estimates on export numbers released on Thursday indicate. The agency is predicting a $3.9 billion bump for exports to China in the year ended Sept. 30, leaving a whopping amount of corn, pork, soy and other purchases to be made in the last three months of the year to reach the trade accord goal [ read more … ]

Policy & Politics

Higher biofuel use is goal of USDA innovation agenda

By Chuck Abbott, Successful Farming  •    •  Posted February 23, 2020

The USDA is setting a goal of a 30% blend of biofuels into the U.S. fuel supply by 2050, said Agriculture Secretary Sonny Perdue on Thursday. Larger biofuel use was one of the four objectives of a department-wide “innovation agenda” to increase agricultural production by 40% while reducing agriculture’s environmental impact by half. [ read more … ]

Record Corn Production Pegged With Rebounds for Soybean, Corn Exports

By Chris Clayton, Progressive Farmer  •    •  Posted February 23, 2020

USDA’s initial look at the 2020-21 crop projects record corn production at 15.5 billion bushels (bb) and a larger soybean crop as well at 4.195 billion bushels, with both seeing significant gains in new-crop exports. USDA’s corn forecast shows a 745 million bushel (mb) increase in 2020-21 ending stocks that will raise the stocks-to-use ratio and bring down prices. Soybean ending stocks to use will come down significantly for the 2020-21 crop to 7.4%, which will slightly bump up soybean prices. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.