Effects of the Renewable Fuel Standard on Corn, Soybean and Wheat Prices. Smith, A. 2018.
Effects of the Renewable Fuel Standard on Corn, Soybean and Wheat Prices [link]Paper  abstract   bibtex   35 downloads  
The Renewable Fuel Standard (RFS2) became law in 2007. It dictates the minimum volume of biofuels such as ethanol and biodiesel that must be used each year for transportation fuel. In a recently published study, Carter, Rausser and Smith (2017) use a new econometric model to estimate the effects of the RFS on the corn market. They estimate that the RFS2 raised corn prices by about 30. This report summarizes their study and extends it to the soybean and wheat markets. I find that the RFS2 increased soybean and wheat prices by about 20%.
@article{smith2018effects,
  title={Effects of the Renewable Fuel Standard on Corn, Soybean and Wheat Prices},
  author={Smith, Aaron},
	url={https://www.dropbox.com/s/wubrrij4b8mav1v/Smith%20-%20Effect%20of%20RFS%20on%20Prices_Latest.pdf?dl=1},
	abstract={The Renewable Fuel Standard (RFS2) became law in 2007. It dictates the minimum volume of biofuels such as ethanol and biodiesel that must be used each year for transportation fuel. In a recently published study, Carter, Rausser and Smith (2017) use a new econometric model to estimate the effects of the RFS on the corn market. They estimate that the RFS2 raised corn prices by about 30. This report summarizes their study and extends it to the soybean and wheat markets. I find that the RFS2 increased soybean and wheat prices by about 20\%.},
	keywords={energy},
  year={2018}
}

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