Loading…
The American Soybean Association urged EPA to correct its proposed 2023-2025 renewable volume obligations under the Renewable Fuel Standard before the final rule due in June. ASA said the draft offered little growth and significantly slowed annual increases in biomass-based diesel volumes.
It also criticized EPA's use of the USDA 10-year baseline to project feedstock availability.
Weaker biomass-based diesel volume requirements reduce expected demand for soybean oil as a biofuel feedstock, which weighs on soybean oil prices and crush margins.
biobased-diesel.comThe American Soybean AssociationFeb 17, 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 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
