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BloombergNEF says final RVO targets for renewable diesel fall well short of expected capacity by 2025. Supply could reach 5 billion gallons against 1.5 to 2.3 billion gallons needed to meet the mandate.
Renewable diesel oversupply relative to mandates would pressure RIN values and push producers to cancel projects or find other markets, weakening demand for soybean oil and other fats.
about.bnef.comJul 6, 2023After 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.
