Senator Mike Rounds says South Dakota farmers are faced with a double whammy with the Trump administration not honoring the 15 billion gallon ethanol renewable fuel standard commitments and not making trade deals happen. He says waivers approved by former EPA head Scott Pruitt that allows oil companies to opt out of using ethanol blends is putting financial pressure on the state’s corn market.
A second problem, says Rounds, is a lack of international trade agreements.
He said the markets have been responding to the instability in trade policy.
Grain commodities have a lifespan and can only be held for so long before bankers start demanding farmers sell their product, says Rounds. He does give the President credit for trying to improve trade, but that time is critical now with farmers on the tip of the spear.
With harvest about to begin Rounds says product will have to start moving.
(KXLG)