The US government will release data each day to aid the sale and purchase of bioenergy products as an attempt to boost the sector throughout the country.
The US Department of Agriculture(USDA) will compile and disseminate information for six key ethanol regions; Iowa, Wisconsin, Minnesota, Nebraska, South Dakota and the Eastern Corn Belt.
Each report will publish daily corn bids, daily grain prices and a weekly ethanol price.
Earlier this week, the Agriculture Secretary Tom Vilsack said he was confident that the US could meet its target of producing 36 billion gallons of biofuel annually by 2022.
His words came as he introduced the USDA’s new roadmap to achieve the nation’s renewable energy goals, including a regional approach to biofuels that he said will enable the 2022 production target.
In addition to the release of daily data, the government department will also release a Weekly Ethanol Summary combining futures prices for Chicago Mercantile Exchange-listed corn and ethanol.