Ethanol:

Farmers Union's Buis discusses record flooding in corn belt, says farmers can meet demands

As U.S. EPA prepares to make a decision on a waiver request for the suspension of the Renewable Fuels Standard, farmers in the Midwest are beginning to assess the damage incurred by this month's record flooding. During today's OnPoint, Tom Buis, president of the National Farmers Union, gives the latest on the impact of the flooding on Midwest farmers. Buis explains why he believes the renewable fuels standard should not be suspended, saying corn farmers will be able to meet the country's fuel and food requirements without issue. He also discusses the effect speculators are having on the price of corn.