A study by the University of Missouri Food and Agricultural Policy Research Institute offers a cautious message about the year-round E15 legislation. Automatic small refinery exemptions are also part of the E15 bill. FAPRI says ethanol demand would boost the demand for corn, but it would jeopardize the market for soybean oil. The Renewable Fuel Standard obligations would be lowered enough to impact demand for biofuel stocks, which would impact soybean oil usage. The FAPRI report contends the soybean losses would exceed the gains for corn farmers and be a net loss for agriculture.
