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Iowa, Missouri and Nebraska governors wrote to EPA Administrator Michael Regan on May 25 urging higher biomass-based diesel volumes for 2023-25. They said the proposed volumes would not reach 3 billion gallons by 2025, even though domestic output topped 3 billion gallons in 2022.
The letter warns that producer and farmer investments are at risk.
Political pressure from Midwest governors raises the chance that the EPA will lift biodiesel mandates, which would support soybean oil and crush demand. The outcome of the final rule remains uncertain.
world-energy.orgMay 26, 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.
