• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
Federal Shutdown

Farmers Are Bracing Themselves for More Losses Amid Trump Shutdown

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
January 4, 2019, 8:00 AM ET
Add Fortune on Google for similar content.

Bruce Buchanan was so elated with Donald Trump’s October vow to allow higher sales of corn-based ethanol that he carved a 60-acre thank you note in his Indiana cornfield.

Now, though, the president’s actions have him worried. The government shutdown that Trump says could last “a long time” without funding for a border wall may hurt farmers by delaying the administration’s ability to steer through the approval for year-round sales of a 15% ethanol blend for gasoline before the summer begins. That’s up from 10% allowed now.

The increased sales would certainly be helpful. Farm income has dropped in five out of the last six years. And this season, growers have been been hamstrung in selling their crops by an ongoing trade war with China. While Buchanan supports Trump on border security, the shutdown is troubling for a farming community that’s clearly struggling, he said.

“It’s not all fun and games out here,” said Buchanan, a third-generation farmer from Fowler, Indiana, in a telephone interview. “It’s a daily challenge.”

The schedule for getting approval of the higher ethanol blend was already ambitious prior to the shutdown. The Environmental Protection Agency had promised to present a final rule in May, just four weeks before existing restrictions on 15% ethanol become binding. Now, though, the agency is largely inoperative.

The government shutdown is now 14 days old. “If you start getting in beyond these two weeks, here, then it does begin to ramp up the pressure because there won’t be people there to work on this stuff,” said Paul Argyropoulos, president of Policy Nexus Advisors in Damascus, Maryland, and a former senior policy adviser in the EPA’s Office of Transportation and Air Quality.

Steep Tariffs

Ethanol could use a boost. Like soybeans and pork, it’s faced steep tariffs from Beijing in the tit-for-tat trade war between the U.S. and China.

Companies including Green Plains Inc. and Pacific Ethanol Inc. have shed jobs and curtailed production. On Thursday, Cargill Inc., the largest privately-held U.S. company, cited “historically low ethanol prices” as one of the reasons one of its segments posted lower quarterly earnings from a year ago.

“From the outset, the EPA gave itself very little wiggle room to complete the year-round E15 rule making before summer, so the shutdown is making a tight time line even tighter,” said Geoff Cooper, president of the Renewable Fuels Association.

The proposed change has been controversial. Agricultural and oil-refinery interests have battled over whether the EPA has the authority to grant the higher blends for the summer months. Once the EPA issues the ruling, it will be legally challenged, Argyropoulos said.

Under current rules, sale of the so-called E15 fuel is blocked from June 1 to Sept. 15 in areas like California, where smog is a problem in hot weather. Only about 1,675 of the nation’s 122,000 or so stations offer it.

Payment Delays

Farmers are having a hard time catching a break. The partial U.S. government shutdown is also raising questions about delays for the second-round of payments under the market facilitation program that the Trump administration initiated to help farmers hurt by the trade war.

U.S. Senator Patrick Leahy, a Democrat from Vermont and vice chair of the appropriations committee, said Thursday that the partial government shutdown has left farmers to “fend for themselves” as they try to seek loans and get the second round of payments under the U.S Department of Agriculture’s market facilitation program.

“With the passage of the 2018 Farm Bill, farmers and ranchers need information — right now, as a new growing season looms — on how the law will affect their operations heading into the planting year, but no one is in the office or staffing the phones to answer those questions or sign up producers for new programs,” Leahy said in a speech from the Senate floor.

‘Fend for Themselves’

“Farmers have been left to fend for themselves while the President holds their safety nets hostage, to secure funding for his border wall,” Leahy said. The White House didn’t immediately respond to a message left for comment

Biofuel use in the U.S. is governed by a policy known as the Renewable Fuel Standard, or RFS. The EPA may have to place a slew of other related matters to the regulation on hold during the shutdown, according to Neelesh Nerurkar, vice president and senior analyst at ClearView Energy Partners in Washington.

That includes reform of the trading market for Renewable Identification Numbers, or RINs, that are used to comply with the RFS, the planned reset of consumption targets for 2020 to 2022 and pending small refinery exemptions from the regulation, Nerurkar said.

“The longer staff cannot work on these RFS actions, the more challenging it makes an already challenging first quarter,” Nerurkar said in an email.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in

Sundar Pichai, chief executive officer of Alphabet Inc.
AIAlphabet
Anthropic and SpaceX just handed Google the biggest profit quarter in company history—on paper
By Eva RoytburgJuly 22, 2026
6 hours ago
Medicaid Services administrator Dr. Mehmet Oz speaks before Vice President JD Vance at the Wisconsin Air National Guard facility at Milwaukee Mitchell International Airport.
PoliticsDonald Trump
Trump admin deferring $1 billion-plus Medicaid payments to California and Minnesota amid ‘suspected fraud’
By The Associated Press and Ali SwensonJuly 22, 2026
9 hours ago
‘It’s called StreetEasy, not StreetHard’: Mamdani cracks down on scourge of ‘housefishing’ and ‘real estate slop’
Real EstateHousing
‘It’s called StreetEasy, not StreetHard’: Mamdani cracks down on scourge of ‘housefishing’ and ‘real estate slop’
By Tatiana SatauaJuly 22, 2026
9 hours ago
As Washington panics about Chinese AI, Jensen Huang says open-source models like Kimi are ‘excellent’ and should be embraced, not banned
AIChina
As Washington panics about Chinese AI, Jensen Huang says open-source models like Kimi are ‘excellent’ and should be embraced, not banned
By Marco Quiroz-GutierrezJuly 22, 2026
9 hours ago
The Top Fitness and Wellness Gifts (2026): For the Busy Gym-Goer in Your Life
HealthFitness
The Top Fitness and Wellness Gifts (2026): For the Busy Gym-Goer in Your Life
By Christina SnyderJuly 22, 2026
9 hours ago
OpenAI CEO Sam Altman sits next to U.S. President Donald Trump.
AITech regulation
OpenAI’s rogue hacking incident was a warning shot. Will it be a wake-up call to finally create AI safety regulation?
By Jeremy Kahn and Emily ForliniJuly 22, 2026
9 hours ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
13 hours ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
2 days ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
1 day ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
2 days ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
10 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.