Local farmers gathered in Farley on Friday afternoon to discuss the impact of Texas Senator Ted Cruz’s Renewable Fuel Standard proposal.
The Iowa Renewable Fuels Association says Cruz’s plan for RFS waiver credits would “destroy” current demand for biofuels. The Association says his proposal would cut corn prices by as much as 25 cents per bushel and reduce soybean prices by 16 cents per bushel.
Farmers Dave Walton and Marty Schweer were among the farmers who gathered at Western Dubuque Biodiesel on Friday, along with grain merchandiser Norm Pottebaum and Western Dubuque employees.
The White House has scheduled a meeting for Monday, at which it is expected the fate of the RFS will be decided.