# Grassley, Feenstra, Ernst Demand Higher RVO Levels

> Senators Grassley and Ernst and Representative Feenstra asked EPA to raise the 2024 and 2025 renewable volume obligations for biomass-based diesel and advanced biofuels. They say current levels have contributed to biodiesel plant closures in Iowa and the Midwest. The lawmakers call for RVOs that reflect the industry's growth potential.

- Date: 2024-05-23 · published 2024-05-23T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15214-grassley-feenstra-ernst-demand-higher-rvo-levels
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher RVOs would increase mandated demand for biomass-based diesel feedstocks such as soybean oil, supporting prices. The request is a political appeal and does not change the mandate by itself.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2020-06-02 | [Strong demand supports prices for vegetable oils at a high level](https://feedsoft.ai/events/6049-strong-demand-supports-prices-for-vegetable-oils-at-a-high-level.md) | +1.8% | +0.1% |
| SBO | 2024-06-18 | [Ernst, Grassley Push for Increased Renew... \| U.S. Senator Joni Ernst](https://feedsoft.ai/events/15205-ernst-grassley-push-for-increased-renew-u-s-senator-joni-ernst.md) | -0.3% | +6.9% |
| SBO | 2018-11-30 | [RFS levels fail to offer forward advance on biofuels demand](https://feedsoft.ai/events/61902-rfs-levels-fail-to-offer-forward-advance-on-biofuels-demand.md) | +3.0% | -0.5% |
| SBO | 2019-11-11 | [Higher biodiesel appetite pushes demand](https://feedsoft.ai/events/55950-higher-biodiesel-appetite-pushes-demand.md) | -3.4% | -0.4% |
| SBO | 2018-07-24 | [France's Avril Raises Biodiesel Output On Higher Oil Prices, Demand](https://feedsoft.ai/events/64125-france-s-avril-raises-biodiesel-output-on-higher-oil-prices-demand.md) | +1.2% | +2.0% |

## Sources

- grassley.senate.gov: https://www.grassley.senate.gov/news/news-releases/grassley-feenstra-ernst-demand-higher-rvo-levels

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.