(Des Moines) President Trump is considering changing US biofuel blending requirements, expanding waivers. But some U.S. farm and biofuel groups say the move would hurt rural economies in the biggest soy-growing and biofuel states, including Iowa, Nebraska, and Illinois. Matt Herman is with the Iowa Soybean Association.
“It’s about one billion dollars worth of value the crop could use this year,” said Matt Herman. “To turn it into more concrete terms, for farmers here in Iowa there would be a lost demand for these fuels equivalent to about 300 million bushels of soybeans. You are talking about half of the crop in the state.”
Opponents to the president’s proposal say the current strong biofuel blending mandates force plants to operate at higher capacities, buying large quantities of corn and soybean oil from nearby farmers and supporting rural jobs. Iowa, Nebraska, and Illinois are the top three biofuel producers in the U.S.
