ABA, joined by 16 other trade organizations, filed comments with the EPA urging it to waive the Renewable Fuel Standard (RFS) for corn ethanol due to decreased corn yields. The current drought conditions have resulted in decreased corn yields for 2012, a year that started with lower corn and soybean stocks. Losses in grain yields have a severe impact on US food production, including bakers. The wheat market typically follows the corn market, so when the RFS artificially drives up corn prices, wheat also rises. EPA is accepting public comments until October 11.
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