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EPA published the final Renewable Fuel Standard rule in the Federal Register setting renewable volume obligations for 2023 through 2025. The rule establishes volumes and percentage standards for cellulosic, biomass-based diesel, advanced and total renewable fuel, and makes changes including treatment of biogas.
Set biomass-based diesel and advanced biofuel volumes determine demand for soybean oil and other feedstocks used in renewable diesel. Volumes below industry expectations weigh on soybean oil prices.
govinfo.govJul 12, 2023After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
