White House Said to Debate Icahn Plan Revamping Ethanol Rule

White House officials have spent the past two days in deliberations with billionaire refinery owner Carl Icahn about his proposal to modify federal policy on renewable fuels and with ethanol producers who oppose it, according to three people familiar with the talks. The flurry of meetings and phone calls came after Bloomberg News reported Monday that Icahn had helped broker a compromise with a leading biofuel group on reworking the program.

Hedge Funds Grow More Bullish on Corn as Surplus Eases

The glut of corn that’s been plaguing Midwest growers is finally starting to ease, and hedge funds are betting that will help spark a rally for prices. U.S. corn inventories are set to drop before the 2018 harvest as farmers curb plantings and demand stays robust, the Department of Agriculture said Friday.