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Roller coaster of emotions at Commodity Classic

The president of the Minnesota Corn Growers says the last 24 hours have been a rollercoaster at Commodity Classic.

Kirby Hettver of DeGraaf tells Brownfield elation following the announcement of Bill Northey’s confirmation at USDA turned into apprehension as rumors of RFS changes began to swirl.

“There’s a lot of things floating around right now and we’re sure looking for Secretary Perdue to give us some assurances when he gets here to help us to sort out what the facts are.”

USDA Ag Secretary is speaking at the General Session this morning amid speculation a cap on RIN credits has been agreed to in exchange for Northey’s confirmation.

Hettver says a RIN cap would hinder ethanol production.

“And depending on the severity of that cap, it could be quite devastating to the corn industry, ethanol industry, and really, Rural America.”

Hettver has concerns any disruption to the Renewable Fuel Standard would negatively affect corn prices.