GFM Network News


Bayer plans more cost cuts, impairment charges

Pandemic now expected to hit crop science wing

Berlin | Reuters — German drugs and chemical company Bayer announced plans on Wednesday for more than 1.5 billion euros (C$2.34 billion) of cost cuts as of 2024 and said it would take impairment charges on its agricultural business as it battles with low commodity prices. Bayer said that the impact of the coronavirus on



American biofuel sector may have to rely on U.S. agriculture secretary for relief — senator

Reuters – The U.S. biofuel industry may have to depend on U.S. Agriculture Secretary Sonny Perdue for aid assistance, Senator Chuck Grassley from Iowa said August 4 after Senate Republicans unveiled a COVID-19 relief package that did not include more specific appropriations for the industry. A provision of the US$1-trillion HEALS Act, introduced by Senate Republicans in late


CBOT weekly outlook: Ag commodities steady

Slack demand for biofuel has dragged on corn

MarketsFarm — Crop commodity values on the Chicago Board of Trade (CBOT) have largely stabilized as COVID-19 restrictions are relaxed in several U.S. states. “We’ve been playing this virus for a few months now,” said Scott Capinegro of Barrington Commodities in Barrington, Ill. COVID-19-related lockdown measures decimated demand for ethanol, which put considerable pressure on



People shop for politics-themed shirts and other items at the store Raygun on the day of the Iowa Caucus in Des Moines, Iowa, Feb. 3, 2020.

Iowa’s anger over ethanol gives Democrats opening

Farmers were strong Trump supporters but now they say they’re being ignored

Reuters – In a speech last month to farmers in Texas, President Donald Trump won applause as he talked up recent U.S. trade agreements. When he tried to boast of his administration’s ethanol policy, however, he was met with silence. Iowa swung sharply to Trump’s Republicans in the 2016 presidential election, but Democrats hope anger

Ethanol woes spur new feed focus for Green Plains

Biofuel maker to reinvent itself as DDGS-based feed maker

Chicago | Reuters — Green Plains Inc., one of the biggest U.S. ethanol producers, is planning to flip its business model upside down to survive a crash in prices for the corn-based fuel. The company will invest some $400 million in the next two to three years at its 13 plants to make high-protein, corn-based


White House to stick with 2020 biofuel plan, despite farmer objections

New York | Reuters — The Trump administration plans to stick with its proposed 2020 biofuel blending requirements, the White House said on Wednesday, despite anger among farmers that the plan does too little for corn growers. The decision could undermine President Donald Trump’s support among farmers, an important constituency in the November 2020 election.

Oil vs Corn: U.S. lawmakers set hearing on fractious biofuels policy

The U.S. oil and corn industries will continue a long-running public battle over America’s biofuels policy on Tuesday during a Congressional hearing about the Trump administration’s use of “secret waivers” for refineries. The hearing set by the Energy and Commerce Committee will air out the grievances of two key political constituencies heading into next year’s