In spite of drought, EPA turns down requests to waive corn ethanol mandate

Associated Press Published: November 16, 2012
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Charlie Spiering

The Environmental Protection Agency rejected a request to waive a mandate requiring more than 40 percent of the nation’s corn to be used for Ethanol.

The mandate, combined with this summer’s drought causing corn prices to skyrocket, severely hurts livestock producers due to high feed prices.

Eight governors and nearly 200 members of Congress requested  that the mandate be waived to offer relief to stock farmers.

In August, the top United Nations food official said an “immediate, temporary suspension” of the mandate would help head off another world food crisis.

Since the announcement, corn futures in Chicago were up 3-1/2 cents at $7.24-3/4 a bushel and ethanol stocks are gaining.

Click to read full article at Washington Examiner



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