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An analysis finds the proposed 2023-25 RFS volume increases for biomass-based diesel are small compared with industry growth. US biodiesel and renewable diesel output rose by about 500 million gallons in 2022 and continues to expand.
The EPA must finalize the 2023 obligations by June 14.
Production already exceeds the proposed mandates, so a weak final rule could leave fuel demand for soybean oil below supply capacity. Stronger final volumes would support soybean oil and soybean crush prices.
biobased-diesel.comPaul WintersMay 5, 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.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
