# Grassley, Duckworth, Ernst Call on USDA to Allocate Additional Funds to Biofuel Industry Negatively Impacted by COVID-19

> Senators Grassley, Duckworth, Ernst and 12 colleagues asked USDA to allocate additional Commodity Credit Corporation funds to the biofuel industry. They cited idled ethanol and biodiesel plants and the drop in corn and soybean prices from lower fuel demand.

- Date: 2020-04-07 · published 2020-04-07T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/53526-grassley-duckworth-ernst-call-on-usda-to-allocate-additional-funds-to-biofuel
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Federal support aimed at keeping biofuel plants running would sustain corn grind and soybean oil demand. If funds are approved, the support would limit downside pressure on corn and soybean prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-04-08 | [Hawley, Blunt, Senators Urge USDA to Allocate Additional Funds to Biofuel Producers Negatively Impacted by COVID-19 - Josh Hawley](https://feedsoft.ai/events/53528-hawley-blunt-senators-urge-usda-to-allocate-additional-funds-to-biofuel.md) | -5.9% | -7.4% |
| CORN | 2022-10-19 | [Grassley, Ernst Urge EPA to Set Robust RFS Blending Volumes to Reflect Biofuel Industry Growth](https://feedsoft.ai/events/15361-grassley-ernst-urge-epa-to-set-robust-rfs-blending-volumes-to-reflect-biofuel.md) | -0.3% | -1.2% |
| CORN | 2022-04-27 | [Fertilizer Pricing Already Negatively Impacting Eastern Canada Planting Season - Grain Farmers of Ontario](https://feedsoft.ai/events/41794-fertilizer-pricing-already-negatively-impacting-eastern-canada-planting-season.md) | -6.4% | -1.7% |
| CORN | 2020-05-21 | [Klobuchar, Grassley Introduce Bill to Support Biofuel Producers - News Releases - U.S. Senator Amy Klobuchar](https://feedsoft.ai/events/53000-klobuchar-grassley-introduce-bill-to-support-biofuel-producers-news-releases-u.md) | +0.2% | +2.8% |
| CORN | 2017-02-18 | [Bullish on US Biofuels Industry \|         Global Oil & Fats Business Online – gofbonline.com](https://feedsoft.ai/events/72363-bullish-on-us-biofuels-industry-global-oil-and-fats-business-online-gofbonline.md) | +0.3% | +0.9% |
| SOY | 2020-04-08 | [Hawley, Blunt, Senators Urge USDA to Allocate Additional Funds to Biofuel Producers Negatively Impacted by COVID-19 - Josh Hawley](https://feedsoft.ai/events/53528-hawley-blunt-senators-urge-usda-to-allocate-additional-funds-to-biofuel.md) | -1.5% | -2.8% |
| SOY | 2019-05-23 | [US ag industry calls on Congress to extend biodiesel tax credit - Biofuels International Magazine](https://feedsoft.ai/events/58977-us-ag-industry-calls-on-congress-to-extend-biodiesel-tax-credit-biofuels.md) | +7.3% | +10.5% |
| SOY | 2025-04-02 | [Oil, biofuel coalition presents unified RFS request to EPA  \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/15128-oil-biofuel-coalition-presents-unified-rfs-request-to-epa-agri-pulse.md) | -4.0% | +0.0% |

## Sources

- grassley.senate.gov: https://www.grassley.senate.gov/news/news-releases/grassley-duckworth-ernst-call-usda-allocate-additional-funds-biofuel-industry

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.