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An analysis notes that EPA's proposed renewable volume obligation for biomass-based diesel is lower than the soybean sector expected, given existing biodiesel plants and planned renewable diesel capacity. It also notes that California's Low Carbon Fuel Standard keeps renewable diesel demand rising.
A volume target below industry expectations limits the outlet for soybean oil into biofuels, which pressures soybean oil prices even as renewable diesel demand grows.
mckeany-flavell.comMarilyn AdutwumMar 10, 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.
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.
