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Fastmarkets sources say CARB's 15-Day Changes cap virgin soybean and canola oil credits at 20% of annual credit production and raise the 2025 stringency step-down to 9%. Renewable diesel consumes more soybean oil than biodiesel under the LCFS, so the proposal is seen as net positive for biofuel demand but negative for soybean and canola oil feedstocks.
Restricting virgin oil use in California's LCFS reduces feedstock demand for soybean and canola oil, although stricter carbon targets support overall biofuel demand.
thejacobsen.comAlexandra WattsAug 27, 2024After 351 past bearish policy events, Soybean Oil 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.
