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The EPA sent its final rule on biofuel blending volumes for 2023-25 to the White House and must make it public by June 14. The proposal had disappointed renewable diesel producers because it called for little growth in mandated volumes.
Whether lobbying led the EPA to raise renewable diesel targets in the final submission is not known.
Higher biomass-based diesel mandates would increase demand for soybean oil and canola oil feedstocks, supporting oilseed prices. A weak final rule would leave crush capacity underused and weigh on vegetable oil values.
producer.comD'Arce McMillanMay 25, 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.
Not enough comparable past events yet for a historical read.
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.
