Agribusiness Update for Wednesday 12/02/15

The EPA has announced higher volumes of renewable fuel than the levels EPA proposed in June under the Renewable Fuel Standard. While the levels are an increase from the previous proposal by the EPA, they are still below the statutory levels. The final 2016 standard for cellulosic biofuel — the fuel with the lowest carbon emissions according to the EPA — is nearly 200 million gallons, or seven times more, than the market produced in 2014.

While some groups recognized the improvement in the volume obligations under the Renewable Fuel Standard, others agriculture groups were quick to criticize the EPA's failure to bring the RFS to statutory levels. The American Farm Bureau said the decision to lower the requirements "undermines our nation's commitment to advancing biofuels and establishing energy independence." The National Farmers Union said the final rule allows for further damages to family farmers. However, Growth Energy called the move by the EPA positive. The National Corn Growers Association called the outcome a step in the right direction.

That's today's Agribusiness Update from the Ag Information Network of the West.