US farm economy will suffer more from broken RFS than Chinese trade war

In Washington, Bloomberg reports that demand destruction for corn from a dismantled Renewable Fuel Standard could be far more damaging to the rural economy than President Trump’s trade war with China and the impact on soy imports. US soy exports to China represent about $14 billion in receipts to the agri economy while ethanol accounts for $21 billion, roughly 38% of the national corn crop at current prices. Ethanol is the largest consumer of the US corn crop.