The post-pandemic state of U.S. agriculture is booming with both Corn and Soybean prices reaching decades year highs. While the term structure of prices reflects continued strong export demand, what has been most interesting is what is happening on the by-products side indicating strong bio-fuel related demand. Much of the recent discussion regarding de-carbonization has focused on EV versus non- EV, however strong battle lines are currently being drawn in the bio-fuels markets, particularly in the renewables and bio-diesel markets. IRT talks with Dr. Scott Irwin of The University of Illinois school of agriculture about the global grain markets and the potential pivot by some U.S. bio -fuel producers towards a variety of alternative fuel slates. We discuss the important implications that this shift will have on U.S. agriculture in the future. 

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Dr. Scott H. Irwin

Dr. Scott H. Irwin is a national and international leader in the field of agricultural economics. His research on agricultural markets is widely-cited by other academic researchers and is in high demand among market participants, policymakers, and the media. He is best known for his work on the impact of speculation in commodity markets. Irwin has published numerous academic articles on the subject and has been called upon to provide testimony before the U.S. Congress, the OECD, and the CFTC, as well as publishing op-ed articles in the New York Times and Washington Times. He is also a well-known innovator in the development of agricultural extension programs that have helped hundreds of thousands of farmers in Illinois, the U.S., and throughout the world make more informed production, marketing, and financial decisions. His vision and leadership have been the driving force behind the award-winning farmdoc project at the University of Illinois since its inception in 1999. Irwin is a member of the Agricultural and Applied Economics Association (AAEA) and was named a Fellow in 2013, the highest honor bestowed by the Association. He has also received the Distinguished Group Extension Program Award (three times), the Quality of Communication Award, and Quality of Research Discovery Award from the AAEA.