Renewable Fuel Association releases report correcting misrepresentation of ethanol market, as USDA releases September ag forecasts

The Renewable Fuel Association prepared a report on what it called the misrepresentation of “the impact of ethanol production on American corn and total grain supplies, contorting facts and reporting statistics completely out of context.” The report was prepared in advance of the in advance of the September World Agricultural Supply and Demand Estimates (WASDE) report just released (here) by the USDA. The RFA report highlighted that US corn exports increased by 800 million bushels between 2002 and 2007, an increase of 50 percent; net use of the corn crop by ethanol producers in 2008 (after deducting the return of dried distillers grains) will be 22 percent. The RFA also noted a projected $4.50 per bushel price for corn, up only 6 percent for the year.

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