
The Union of Concerned Scientists backed a proposed cap on vegetable oil-based fuels within California's Low Carbon Fuel Standard. The commentary says a flood of credits from renewable diesel and manure biomethane has weakened the program.
A cap on crop-based fuels would limit how much soybean oil and other vegetable oils can go into California fuel, reducing a major source of biofuel demand.
After 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 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.