In Africa, about a quarter of the population is undernourished. In contrast, there has been a lot of improvement in the hunger situation in Asia. The number of people undernourished in Asia has fallen from 739 million to 563 million over the last 20 years.
Crop prices in October will have big implications for crop insurance payments for many producers. Prices used for calculating payments for farmers with policies that have harvest price options are based on futures prices settlement prices in October.
So far in October the corn price has averaged $7.52 per bushel, far above the $5.68 per bushel projected price established before the season started. The soybean harvest price is running near $15.50 per bushel. Crop insurance payments so far total about $2 billion, but payments won’t be made on policies with the harvest price option until after October.
The Renewable Fuels Association says there are only eight fuel stations in the country selling E-15. Concerns about storing the fuel and burning it in older vehicles have stalled adoption. Many underground storage tanks aren’t certified to hold E-15, so station owners would have to make significant investments to add the product.
Also, the EPA may require E-10 buyers to purchase at least 4 gallons of fuel at a time to “clear the hoses” if E-15 and E-10 are sold using the same blender pump. Adoption of E-15 will be very slow.