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 Trump Administration Seeks Extension to Respond to Biofuel Petition

The Trump Administration is requesting the U.S. Supreme Court extend the response deadline to a petition from oil refiners that the court review a prior court decision. The request would push their response deadline to December 14 from November 12, according to Reuters. The case relates to waivers issued to refiners under the Renewable Fuel Standard. Earlier this year, an appeals court ruled the Environmental Protection Agency waivers granted to small refineries after 2010 should only be approved as extensions. Farm and biofuel groups welcomed the ruling, and the EPA later tossed out several exemptions. Still, more than 50 waivers are pending action by the EPA, and EPA Administrator Andrew Wheeler said this week, any action should wait until after the Supreme Court petition is wrapped up. Oil refiners filed the petition in September. The EPA says it needs more time to provide a full government response to the petition. Biofuel groups say the delay provides further uncertainty of the matter.

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Trade Deficit Shrinks for First Time in Three Months

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced the goods and services trade deficit was $63.9 billion in September, down $3.2 billion from $67.0 billion in August. This is the first time in three months the trade deficit has shrunk. September total exports were $176.4 billion, $4.4 billion more than August exports. September imports were $240.2 billion, $1.2 billion more than August imports. Exports of goods increased $3.7 billion to $122.8 billion in September. The export figures note that exports of foods, feeds, and beverages increased $1.6 billion, including a $1.4 billion increase in soybean exports. The deficit with China decreased $2.1 billion to $24.3 billion in September. U.S. farmers are enjoying the increased sales to China, with a bump in commodity markets this fall. The Department of Agriculture reports weekly corn sales were 16 percent higher than a week ago. Weekly soybean sales slipped but remained at the highest pace in two years.

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