# California’s Proposed Changes to Fuels Program Presents Mixed Bag for Soybeans - American Soybean Association

> The American Soybean Association outlined California's December proposal to change its Low Carbon Fuel Standard and how it could affect soybean-based biofuels. California accounted for 97% of U.S. renewable diesel consumption in 2022, and the state's incentives have drawn renewable diesel production to it.

- Date: 2024-01-11 · published 2024-01-11T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15247-california-s-proposed-changes-to-fuels-program-presents-mixed-bag-for-soybeans
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Changes to California's credit and carbon-intensity rules could alter demand for soybean oil-based renewable diesel, with mixed effects on soybean oil and soybean prices.

## Read by commodity

- SBO: neutral
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-10-15 | [Supplemental Proposed Rule: It Does Account for SREs…But with a Loophole? - American Soybean Association](https://feedsoft.ai/events/56441-supplemental-proposed-rule-it-does-account-for-sres-but-with-a-loophole.md) | +1.9% | +5.1% |
| SBO | 2019-03-14 | [EPA Proposes RFS RIN Reforms Along with E15 - American Soybean Association](https://feedsoft.ai/events/59975-epa-proposes-rfs-rin-reforms-along-with-e15-american-soybean-association.md) | -1.4% | -2.1% |
| SBO | 2017-06-22 | [Soybean Industry Supports Biodiesel Industry on Capitol Hill - American Soybean Association](https://feedsoft.ai/events/70357-soybean-industry-supports-biodiesel-industry-on-capitol-hill-american-soybean.md) | +0.8% | +6.7% |
| SBO | 2017-12-19 | [10 Years of Biodiesel in the RFS - American Soybean Association](https://feedsoft.ai/events/67351-10-years-of-biodiesel-in-the-rfs-american-soybean-association.md) | +0.5% | -2.4% |
| SBO | 2019-01-24 | [Soy Leaders ‘Engage’ with Biodiesel Industry - American Soybean Association](https://feedsoft.ai/events/60969-soy-leaders-engage-with-biodiesel-industry-american-soybean-association.md) | +3.5% | +3.8% |
| SOY | 2017-07-05 | [ASA: RFS Volumes a Missed Opportunity for Biodiesel - American Soybean Association](https://feedsoft.ai/events/69850-asa-rfs-volumes-a-missed-opportunity-for-biodiesel-american-soybean-association.md) | +6.3% | -0.5% |
| SOY | 2017-11-30 | [RFS Volumes Again Fail to Capture Biodiesel’s Potential - American Soybean Association](https://feedsoft.ai/events/67841-rfs-volumes-again-fail-to-capture-biodiesel-s-potential-american-soybean.md) | +1.0% | -4.7% |
| SOY | 2023-02-17 | [American Soybean Association tells EPA to affirm its commitment to a strong RFS](https://feedsoft.ai/events/15329-american-soybean-association-tells-epa-to-affirm-its-commitment-to-a-strong-rfs.md) | +0.2% | -3.3% |

## Sources

- soygrowers.com: https://soygrowers.com/news-releases/californias-proposed-changes-to-fuels-program-presents-mixed-bag-for-soybeans/

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