Grain prices have been on the decline due to excess supplies but now analysts are also blaming the EPA for the fall.
Both corn and soybean prices have been down by roughly 8 percent since the beginning of the year. A market analyst with DTN says the ethanol market for corn and the renewable diesel market for soybean oil are two much-needed sources of demand but the Renewable Fuel Standard program sets minimum volume requirements for those biofuels.
The ag sector was expecting a much larger quota than what was set last June and now they have too many crops.
