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NCGA president fears COVID impacts will linger
The president of the National Corn Growers says impacts of the coronavirus pandemic will be felt for quite a while.
Kevin Ross, who farms in southwest Iowa, points to the trickle-down effect of reduced fuel demand.
“We’ve backed up demand for corn, and now the projected carryouts are above 3 billion after this year, with large acreage planted at 97 million acres this year.”
He says 2020 was shaping up to be a relatively strong year for corn demand until COVID-19 came along.
And right now, the long-term success of our ethanol partners driving biofuels demand is definitely the best way to paint a good economic picture for agriculture. It was in 2006, and it still is today.”
The Renewable Fuel Standard was implemented in 2006. It helped boost prices and remains a major demand driver for corn.
Ross says the federal government needs to protect the RFS and get onboard with improving and increasing demand for biofuels.
