Biden Administration concerned Russian invasion could force food vs fuel decision

In Washington, Reuters reports the Biden Administration is concerned the Russian invasion in Ukraine will impact food prices to such an extent that introducing biofuel blending waivers may be a way to stave off food inflation. Potential waivers are thought to reduce demand for corn and soy so that they could be diverted to human consumption and animal feed. Corn, soy and wheat futures have skyrocketed since the invasion, but the White House told Reuters the subject of waivers wasn’t currently under “serious consideration”.