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EPA announced a final rule setting 2023 to 2025 renewable volume obligations for biomass-based diesel and advanced biofuels. The 2023 biomass-based diesel mandate is 2.82 billion gallons, unchanged from the proposal, with higher levels in 2024 and 2025.
The mandate sets a firm demand base for soybean oil and other feedstocks used in biodiesel and renewable diesel. Because the volumes fell short of industry expectations, the price outlook for soybean oil is bearish.
realagriculture.comShaun HaneyJun 22, 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.
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.
