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At the 2023 Commodity Classic, the American Soybean Association set policy priorities centered on the Farm Bill and EPA's recent Renewable Fuels Standard proposal. ASA CEO Steve Censky said renewable diesel could expand soybean demand, but that EPA's proposed biomass-based diesel volumes would undercut that potential.
A lower EPA biomass-based diesel volume would reduce expected demand for soybean oil from biofuel plants, weighing on soybean oil prices and the crush margin that supports soybean values.
agweb.comMar 7, 2023After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
