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The California Air Resources Board proposed capping credits under the Low Carbon Fuel Standard at 20% of biomass-based diesel from soybean or canola oil. The proposal also requires feedstocks like soybeans to be certified against sustainability criteria and keeps the jet fuel exemption.
Comments are due August 27.
Limiting credit eligibility for soy and canola oil reduces demand for those oils in renewable diesel and would tighten LCFS credit supply, lifting credit prices while weighing on soybean oil and canola demand.
agri-pulse.comPhilip BrasherAug 13, 2024After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
