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The EPA is expected to rule by month-end on 34 petitions for exemptions from 2025 renewable fuel obligations under the RFS. The American Soybean Association warned that granting small refinery exemptions would return RIN credits to the market and reduce blending needs.
Argus assessed RIN prices at record highs over the summer.
Exemptions would ease required biofuel blending and lower demand for soybean oil feedstock, which pressures soybean oil and soybean prices.
argusmedia.comDenise Cathey, Thompson CorpusMar 25, 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.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
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.
