American Farm Exports to Drop and EPA Releases RFS Blending Volumes
**American farm exports will drop to $190 billion during the current fiscal year.
USDA says that’s 4% lower than the record set in the recently-ended 2022 fiscal year.
The lower forecast is caused by slowing economies around the world.
Global economic growth was forecast at 2.7 percent, down from 3.2 percent this year.
Central banks around the world are tightening their money supplies to combat inflation, with China a notable exception.
**The National Cattlemen’s Beef Association supports the Senate version of the Protect Farmers from the SEC Act, a companion bill to legislation introduced in the House.
NCBA Chief Counsel Mary-Thomas Hart says, the Securities and Exchange Commissions’ overly broad rulemaking COULD increase burdens on cattle producers by requiring data that’s impossible to provide.
The act excludes agriculture from the reporting Scope 3, greenhouse gas emissions under the SEC’s proposed climate disclosure rule.
**The EPA released the long-awaited 2023-25 Renewable Fuel Standard blending volumes.
The Renewable Fuels Association says the proposal creates a path for sustainable growth in the production and use of low-carbon renewable fuels.
EPA proposes setting the 2023 RFS requirement at 20.82 billion gallons, of which 5.8 billion will come from advanced biofuels and 15 billion from conventional renewable fuels, along with an additional 250 million gallons to address a 2017 D.C. Court decision.