Answer........A demand base that took care of the supply at the time.
Thru improved genetics and GMO crops, other improvements to machinery and infrastructures, thanks to rapid improvement in technology, our supply has grown, not just from more planted acres. Our supply has grown enough that we NEED Ethanol, we NEED world exports and we NEED domestic usage! Any hiccup in the demand base of any of these and it really screws with the marketplace. We NEED a bigger demand base than we needed before Ethanol. That is how it works BBF...supply and demand! Ethanol consumes a lot of corn, livestock consumes a lot of Ethanol byproducts. Granting waivers decreases Ethanol demand thus corn usage......get it now??? We ARE over producing for our present demand, be it exports or Ethanol. Do we try to keep our demand base up and possibly increase it or go back to the good ol "Set Aside Program" again to try to curb production and really watch people squeal???????????
China had to be dealt with, I agree. But if you think I am going to give an administration a pat on the back for messing with the Ethanol demand at the SAME TIME we are playing the tariff chess match, you're wrong. I do not want Government handouts!!!! I want a demand base for our products and NO ONE messing with it. China can turn away cargoes of US grains but how many cargoes of Chinese trinkety crap do we turn away in return???? BBF, you sound like you are in denial of how this administration has messed with one of our demand bases. Granting waivers is in NO way a positive measure for the industry whether demand is down due to this whole Covid crap or if it is robust. ANY hiccup in any demand base HURTS. Especially with the supply the US producer can provide in any commodity now a days.