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Eleven American Soybean Association directors and its chief economist testified at EPA's virtual public hearing on January 10, 2023, opposing the proposed 2023 to 2025 renewable volume obligations. The group said the draft set rule would slow biofuel growth and conflicts with climate commitments.
ASA cited announced crush expansions adding about 5.5 billion pounds of soybean oil supply.
Opposition from the soybean sector highlights the risk that lower mandates would leave expanded crush capacity short of oil demand, pressuring soybean oil prices.
biobased-diesel.comThe American Soybean AssociationJan 13, 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.
