18 March 27, 2014 2014 LOGAN COUNTY FARM OUTLOOK MAGAZINE LINCOLN DAILY NEWS.com
“A shock of this magnitude to agriculture
markets would send ripples throughout the entire
economy,” said Barbre. “Congress must carefully
weigh the ramifications any changes to the RFS
would have on agriculture and related industries.
The U.S. economy and consumers can ill afford a
downturn in this sector.”
Some farmers are considering this to be a move
by the government to further their support of oil
companies.
Paul Taylor, a family farmer at Esmond and
former president of the Illinois Corn Growers
Association, commented: “Corn prices are
already below the cost of production, and this
announcement will cause corn prices to drop
even further. Family farmers will have to borrow
money to cover their family’s living expenses
as a result of this announcement, while Big Oil
realizes massive profits yet again.”
Taylor continued: “Ethanol is one dollar cheaper
than gasoline, per the Chicago Mercantile
Exchange. Anyone who contradicts that ethanol is
costing consumers more money needs to check it
out for themselves.”
According to the ICGA, farmers supplied corn
for a 13.8-billion-gallon ethanol industry last year
after the worst drought in 80 years. The ICGA is
confident that Illinois farmers can supply corn for
a 14.4-billion-gallon ethanol industry this year,
when we are seeing record yields. Reducing the
amount used for biofuels could lead to a massive
surplus of leftover corn.
As asked by Kenny Hartman, ICGA vice
president, of Waterloo: “In 2012, during the worst
drought I’ve ever experienced, I raised 78 bushels
of corn per acre. Yet, the ethanol plants around
me continued to run and still produced enough
ethanol to help our country meet the requirement
in 2013: 13.8 billion gallons. … This
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