The U.S. EPA may allow fuel manufacturers to count exports of ethanol towards towards their biofuels mandates. That could add 4.6 billion liters to the existing 4.8 billion liters of exports in the past 12 months, though a ruling could be several months away. U.S. exports of ethanol have risen 59% in the past 12 months on a year earlier to reach a new high on a trailing 12 months basis. The policy change meets the Trump administration’s targets to increase energy independence, boost exports (to cut the trade deficit) and help farmers). One challenge is that a large part of the growth has...