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Governors' Biofuels Coalition
NEWS UPDATE April 13, 2020

Top Story

Trump Vows to ‘Expedite Help’ for Beleaguered U.S. Farmers

By Mike Dorning, Bloomberg  •    •  Posted April 12, 2020

President Donald Trump said he has asked his agriculture secretary to “use all of the funds and authorities at his disposal,” to aid U.S. farmers, whose financial peril has worsened in the coronavirus pandemic. The administration plans to announce an aid package next week, according to people familiar with the discussions. [ read more … ]

Markets

U.S., Saudi Arabia, Russia Agree to Lead Unprecedented Oil Output Deal

By Benoit Faucon and Summer Said, Wall Street Journal  •    •  Posted April 12, 2020

Saudi Arabia, Russia and the U.S. have agreed to lead a multinational coalition in major oil-production cuts after a drop in demand due to the coronavirus crisis and a month-long Saudi-Russian feud had devastated oil prices. The deal, sealed Sunday, came after President Trump intervened to help resolve a Saudi-Mexico standoff that jeopardized the broader pact. [ read more … ]

USDA sharply reduces estimate of corn use for ethanol

By Ben Nuelle, AgriPulse  •    •  Posted April 12, 2020

Department of Agriculture officials dropped corn used to produce ethanol by 375 million bushels in this month’s World Agricultural Supply and Demand Estimates report released Thursday, while raising corn, soybean, and wheat ending stocks. Corn use for ethanol was dropped from last month’s projection of 5.42 billion bushels to 5.05 billion bushels this month; the number had been left alone in the March report, signaling the entirety of the change happened in the last month. [ read more … ]

Pandemic

From closed factories to falling corn prices, rural Iowa feels widespread impact of the coronavirus pandemic

By Donnelle Eller, Des Moines Register  •    •  Posted April 12, 2020

Joey Pagliai delivers pizzas most nights along with his servers, who no longer have customers to wait on in the longtime Grinnell family restaurant. Demand for take-out and frozen pizzas remains strong, as have sales of the restaurant’s take-home ranch dressing, said Pagliai, who bought the 55-year-old business three years ago from his parents. But he expects sales to fall as COVID-19 cases rise. “I’m worried that some businesses may not come back,” said Pagliai, adding that he feels lucky to be continuing his central Iowa operation. “Grinnell isn’t that big. It’s tough when someone doesn’t come back.” [ read more … ]

 

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