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EPA issued a final Renewable Fuel Standard rule setting biofuel volume requirements for 2023 to 2025. EPA says the rule will reduce U.S. oil imports by about 130,000 to 140,000 barrels per day over that period.
Mandated biomass-based diesel volumes create a floor for soybean oil demand, but the rule's modest increases leave less room for growth than producers expected. The net price effect on soybean oil is bearish relative to expectations.
epa.govUS EPA,OAJun 21, 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.
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.
