OMAHA, Neb.— Ethanol producers say clogged rail lines and other shipping problems have forced them to reduce production of the fuel and contributed to higher prices. The Renewable Fuels Association criticized railroads Thursday and triggered a strong response from the Association of American Railroads.» Read More
*China cancels a cargo of U.S. corn over GMO issue. CHICAGO, Nov 18- Chicago Board of Trade corn futures fell to a fresh three-year low on Monday on pressure from a proposal to lower the use of corn-based ethanol in the United States and on news China rejected a cargo of U.S. corn which contained a genetically modified variety not approved for import.
The EPA's intervention on ethanol may help cool the torrid advance of ethanol credit prices, and contain prices at the pump.
*Corn not far off 3- yr lows. CHICAGO, Nov 18- Chicago Board of Trade corn futures fell for the fifth straight trading session on Monday and were hovering just above a three-year low on harvest of a huge U.S. corn crop and spillover pressure from a proposal to lower the use of corn-based ethanol.
NEW YORK, Nov 18- Generation of U.S. ethanol renewable fuel credits edged up in October, data from the Environmental Protection Agency showed on Monday. This table displays the total production of renewable fuels and quantity of RINs generated under the RFS2 program in each month by fuel category:. Cellulosic Biofuel RINs 109,142 44,372.
Chicago Board of Trade December corn futures were off 1.2 percent at $4.16-3/ 4 a bushel at 1236 GMT, just above a three-year low of $4.15-1/ 2 set earlier this month. "The corn weakness can be attributed to the EPA proposal," said Luke Mathews, commodities strategist at the Commonwealth Bank of Australia.
For the first time the EPA has shrunk the ethanol mandate. Andy Lipow, Lipow Oil Associates, thinks it is a big win for big oil.
*EPA seeks about 16 pct cut in renewable fuels goal. WASHINGTON, Nov 15- The Obama administration proposed on Friday slashing federal requirements for U.S. biofuel use in 2014, bowing to pressure from the petroleum industry and attempting to prevent a projected fuel crunch next year.
The Obama administration wants to reduce the amount of ethanol in the nation's fuel supply, which could cut into farmers' profits for corn.
*Wheat pares gains after Egypt buys French, Romanian grain. Wheat pared gains after top global buyer Egypt said it bought wheat from France and Romania in a tender, and soybeans fell in light, choppy trading. At the Chicago Board of Trade as of 12:13 p.m. CST, December corn was down 3 cents at $4.26-3/ 4 a bushel.
Production could be "in the 14 billion range" even if the U.S. Environmental Protection Agency lowers its target for use of renewable fuels, ADM CEO Patricia Woertz said in a webcast of a Morgan Stanley conference. The EPA is expected to propose new targets for its Renewable Fuel Standard as early as this week.
JOHNSTON, Iowa, Nov 8- Lower gasoline demand in the United States is slowing ethanol expansion no matter how much the government mandates the grain-based additive be blended into the nation's fuel supply, U.S.
Agribusiness giant Cargill Inc on Monday said it restarted a plant in Fort Dodge, Iowa, that the company purchased in 2011 from corn processor Tate& Lyle. The announcement came as Noble Group Ltd said it will soon restart an Indiana ethanol plant that was shut for a year while another facility that was idled for five years in Ohio came back online last month.
CHICAGO, Nov 4- U.S. agribusiness giant Cargill Inc said on Monday it expanded its corn-based ethanol business by opening a plant in Fort Dodge, Iowa, with the capacity to grind 150,000 bushels of corn daily.
NEW YORK, Oct 30- Biofuel and oil industry lobbyists have raced to the White House over the past two weeks in a last-ditch effort to sway controversial ethanol blending rules for next year, fueling talk of that a decision may be just a few weeks away.
BEIJING, Oct 31- China says it will remain self sufficient in corn. If imports of corn substitutes are added, China is already pushing up against its target of growing 95 percent of the corn it uses. With that target China would import 10 million tonnes of corn, 3 million tonnes more than expected this year.
SAO PAULO, Oct 30- Brazil's state-run oil company Petrobras said on Wednesday it has asked the government to return to a transparent domestic fuel pricing policy in the wake of the latest quarter of dismal earnings.
*Ethanol business reports operating income vs loss year earlier. Oct 29- Valero Energy Corp's third-quarter profit beat analysts' estimates by a wide margin as the U.S. Gulf Coast refiner processed more crude oil and sold more ethanol at a higher price.
A new U.S. road map to combat climate change may breathe new life into alternative energy, especially as a way to help generate electricity.
The renewable fuel sector struggles to find its voice in a world of renewed popularity for oil and gas. One part of that aims to transform agriculture waste into fuel.
European anti-trust investigators searched the offices of price agency Platts and at least one major oil company for a third day on Thursday, hunting for evidence of possible price manipulation on oil markets, witnesses said.