U.S. biofuels industry seeks bailout to weather ‘collapsing demand’: letter

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FILE PHOTO: Corn is harvested from a field on Hodgen Farm in Roachdale, Indiana, U.S. October 29, 2019. REUTERS/Bryan Woolston

(Reuters) – The U.S. biofuel industry has asked the Trump administration for funds from the U.S. Department of Agriculture’s Commodity Credit Corporation to help it survive a demand slump triggered by the coronavirus outbreak, according to a letter seen by Reuters.

The funds could be used to offset a portion of the industry’s corn and soy bean purchases, or as direct assistance to companies to help them retain staff, according to the April 1 letter addressed to Agriculture Secretary Sonny

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