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EPA proposed a multiyear rule on December 1, 2022, setting Renewable Volume Obligations and percentage standards for 2023 to 2025 across the four RFS categories. The proposal is open to public comment, and EPA is required under a consent decree to finalize the 2023 volumes by June 14.
The AFBF analysis examines how the changes affect farmers.
The RVO levels set the required blending of biofuels, which drives demand for corn-based ethanol and soybean oil-based biodiesel and renewable diesel, so the final numbers will directly affect feedstock prices.
farmweeknow.comBERNT NELSON, AFBF economistFeb 1, 2023After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 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.
