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Biofuel industry representatives at a Fastmarkets conference said the government's focus on electrification leaves little room for renewable fuels. They pointed to lower-than-expected renewable volume obligations for the next three years.
They also criticized the EPA for not yet holding a promised meeting on the Renewable Fuel Standard.
Industry pressure for stronger renewable fuel mandates supports demand for soybean oil, but these are advocacy remarks without a new policy decision. The price effect is limited until the EPA finalizes volumes.
fastmarkets.comAlexandra Chapman, the Fastmarkets team, Amanda LuhavaljaMay 22, 2023After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
