EPA Wants Lower RFS
Fri Oct 11, 2013 08:40 AM CDT

CHICAGO (Dow Jones) -- The Environmental Protection Agency may seek a reduction in its biofuel blending mandate, according to a leaked report Thursday. A reduction would lower grain demand and the corn market responded, falling 0.9% to its lowest level in 37 months. Soybeans also declined but wheat gained.

An EPA proposal obtained by Reuters reportedly reduces the target for biofuel use at 15.21 billion gallons in 2014 from the 18.15 billion gallons originally set by a 2007 law known as the Renewable Fuels Standard. Of that, 13 billion gallons of ethanol, which is made from corn in the U.S., ...

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