"We saw $8.50 corn because of the drought," Erickson said. "We experienced the worst drought since the 1930s – if you look at right now, now we are seeing nearby corn futures at about $4.32 a bushel.
"We won't be starting the year off with $6 corn," he said.
In addressing concerns of a "legislative fix" for RFS policy, Dinneen said his organization remains opposed to the idea. In fact, he suggested, any sort of RFS alteration keeps the policy from functioning as a catalyst to advanced ethanol use and production.
"RFS was passed to make the marketplace do things that the market would not do otherwise; create incentives for new biofuels; to move this country forward – and this proposal takes our country backwards," Dinneen said.
About 145 people are scheduled to speak at the hearing, beginning at 9 a.m. on Thursday. The National Corn Growers Association said more than 30 corn farmers and their families would be attending the hearing on behalf of NCGA, representing 13 states.
Ten Iowa farmers and business owners will also be on hand, the Iowa Renewable Fuels Association said.
Proponents of the changes, including several livestock and poultry groups, are also expected to attend the hearing. The National Council of Chain Restaurants, which is leading a coalition of groups opposed to RFS policies, has said that the mandates drive commodity costs higher at the expense of consumers.
All stakeholders are invited to listen in to the hearing and weigh in on the proposed change via federal register comment until Jan. 28. Learn more about the hearing and how to comment.