USDA Raises Forecast for Corn Crop
The US Department of Agriculture (USDA) increased the forecast for this year’s corn crop to an expected record 14.395 billion bushel crop. The ethanol industry is projected to use 5.125 billion bushels of this year’s crop, holding steady from last year’s numbers. If the projected crop estimates are accurate, 2014 will set the 5th record corn production level in the last twelve years. The federal Environmental Protection Agency (EPA) has proposed to reduce the 2014 renewable fuel standard volumes by more than 1 million gallons. Read more in Ethanol Producer Magazine.