With respect to the ethanol mandate, yes, I would say you missed something. The amount mandated for fuel has gone up every year since the law went into effect until 2013 [it's under the control of the EPA.]
Even when the blend percentage in gasoline does not go up -- basically it can't because Ethanol is already too destructive in internal combustion engines -- the corn is still purchased and ostensibly converted to ethanol. It may very well be rotting in US govt. grain storage as corn starch, converted to ethanol and burned up... who knows? We have several BILLION pounds of nonfat dry milk converted from excess production purchased by USDA over the last several decades to manipulate butterfat/milk prices.
EPA has actually missed its targets every year, thank God. In 2015, they decided to end the moratorium and increase the quota yet again. http://dailycaller.com/2015/05/29/despite-thunderous-opposition-epa-increases-the-ethanol-mandate/
check this out:
http://thehill.com/policy/energy-environment/243438-epa-sets-ethanol-blending-requirements
I was actually thinking of the amount set by Congress...but you are are right, in that the amount in the real world goes up each year as sort of secondarily mandated by the EPA.