Corn Price Decline Less Than 1% With Full RFS Waiver
(Corn and Soybean Digest) A full waiver of the Renewable Fuel Standard’s (RFS) conventional biofuel requirement might reduce corn prices by just 0.5% (4¢/bu.) in 2012-2013, according to a new analysis conducted by the Food and Agriculture Policy Research Institute. The study also found corn ethanol production might slip by just 1.3% with a waiver in 2012-2013, while corn available for livestock feed might increase just 0.6%. Further, the analysis concluded a waiver of the RFS would have no effect on retail beef prices in 2013, and might shave just 1¢/lb. off of retail pork prices. The Renewable Fuels Association (RFA) said the new FAPRI study adds to the mounting body of evidence showing that a waiver of the RFS would not meaningfully impact feed prices. READ MORE Download study