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EPA's final Renewable Fuel Standard rule, issued June 21, sets RVO targets for 2023 to 2025 that show only modest increases over the proposal. The rule follows a court-driven timeline after Growth Energy litigation and a consent decree.
Mandate levels that rise less than the market expected limit demand growth for biomass-based diesel feedstocks, pressuring soybean oil prices.
farmweeknow.comBERNT NELSON, AFBF economistJul 5, 2023After 351 past bearish policy events, SBO 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, SOY 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.
