Reuters is reporting that the U.S. Environmental Protection Agency will deny a request to slash the federal renewable fuels standard Thursday.

The source of the information in the Reuters article is an unnamed “government official with knowledge of the matter.”

The federal renewable fuels standard currently requires 9 billion gallons of renewable fuels to be blended into the gasoline supply. The request for a waiver, submitted to the EPA in April by Texas Gov. Rick Perry, would have cut the standard in half if approved by the EPA.

Texas is a stronghold of the oil industry and is also a major cattle feeding state. Cattle feeders had claimed that the renewable fuels standard was driving up the price of corn, an important livestock feed.

Corn prices had risen to record highs, near $8 per bushel, earlier this year when disastrous flooding throughout Iowa and the upper Midwest had caused concerns about the ability of farmers to grow a crop. But corn prices have fallen steadily since then as the condition of corn in the Midwest has improved significantly. December corn was trading at $5.27 per bushel Wednesday at the Chicago Board of Trade.