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The Minnesota Soybean Growers Association urges the EPA to raise renewable volume obligations for biomass-based diesel and advanced biofuels. The EPA is expected to send its final rule to the Office of Management and Budget in May, with the final release set for June 14.
The group argues that biodiesel cuts emissions and displaces petroleum diesel.
The lobbying supports soybean oil demand if the EPA raises mandates, but without a new decision the price effect is modest. Soybean crush demand tied to biodiesel is the channel to watch.
mnsoybean.orgMay 16, 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.
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.
