This may be some good news for soybean farmers and the prices they receive.
American biofuel manufacturers will use over half of all the soybean oil produced in the U.S. next year. The new higher blending mandates will stimulate more demand, and cut back on foreign biofuel imports, which could lead to good news for farmers.
The EPA raised blending mandates under the Renewable Fuel Standard and proposed to cut the number of RIN generated for imported renewable fuels from foreign imports.
Here's John Jenkinson with today's Ag Minute...