New bill proposes matching corn stocks with US biofuels blending ratios

In Washington, legislation is being drafted in the US House of Representatives that alter the Renewable Fuel Standard 2 in such a way that would allow the federal ethanol use mandate to be lowered when corn supplies were tight. Reuters is reporting that the mandate would likely be lowered by 25% if stocks-to-use ration fell below 7% and would be lowered by 50% if the ratio fell below 5%.