# EPA's 'Set Rule' Drives Volatility in Renewable Diesel Margins | Aegis Market Insights

> After EPA's December 1 set rule came in below expectations for the advanced category, D4 RIN prices fell 8.33% in one session and renewable feedstocks sold off. Pressure on Nymex ULSD also weighed on renewable diesel margins.

- Date: 2022-12-20 · published 2022-12-20T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15352-epa-s-set-rule-drives-volatility-in-renewable-diesel-margins-aegis-market
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Lower mandates and weaker RIN values reduce the economics for renewable diesel, cutting feedstock demand for soybean oil and pressuring diesel prices.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- DIESEL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-11-04 | [US Renewable Fuels Tax Credits and Feedstock Values Rest on Election Outcome \| Aegis Market Insights](https://feedsoft.ai/events/15169-us-renewable-fuels-tax-credits-and-feedstock-values-rest-on-election-outcome.md) | +3.5% | +0.3% |
| SOY | 2023-03-07 | [ASA CEO: Renewable Diesel Could Drive a New Era for Soybean Demand, But EPA Needs to Rethink the RFS - AgWeb](https://feedsoft.ai/events/15321-asa-ceo-renewable-diesel-could-drive-a-new-era-for-soybean-demand-but-epa-needs.md) | -2.7% | -1.2% |
| SOY | 2019-08-01 | [NBB Asks EPA to Raise 2020 RFS and 2021 Biodiesel Volumes - Fuels Market News](https://feedsoft.ai/events/57450-nbb-asks-epa-to-raise-2020-rfs-and-2021-biodiesel-volumes-fuels-market-news.md) | -1.8% | -1.3% |
| SOY | 2023-06-21 | [NOPA Responds to EPA's Final Rule on RFS Renewable Volume Obligations (RVOs) for 2023-2025 - NOPA](https://feedsoft.ai/events/15300-nopa-responds-to-epa-s-final-rule-on-rfs-renewable-volume-obligations-rvos-for.md) | +1.2% | +1.0% |
| SOY | 2023-06-30 | [Renewable Fuel Standard Final Rule – 2023, 2024, 2025: Increases Short of Expectations \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/15301-renewable-fuel-standard-final-rule-2023-2024-2025-increases-short-of.md) | +0.2% | +0.3% |
| SBO | 2024-11-04 | [US Renewable Fuels Tax Credits and Feedstock Values Rest on Election Outcome \| Aegis Market Insights](https://feedsoft.ai/events/15169-us-renewable-fuels-tax-credits-and-feedstock-values-rest-on-election-outcome.md) | +5.2% | -6.9% |
| SBO | 2019-02-21 | [NATSO Analysis: RIN Market Volatility Driven By Policy Announcements, Rumors & News Reports; Reforms Unnecessary - NATSO](https://feedsoft.ai/events/60465-natso-analysis-rin-market-volatility-driven-by-policy-announcements-rumors-and.md) | -0.5% | -2.3% |
| SBO | 2024-05-27 | [The Road Ahead: Renewable Diesel & SAF](https://feedsoft.ai/events/30342-the-road-ahead-renewable-diesel-and-saf.md) | +1.7% | +2.0% |

## Sources

- instanext.com: https://instanext.com/insights/epas-set-rule-drives-volatility-in-renewable-diesel-margins
- aegis-hedging.com: https://www.aegis-hedging.com/insights/epas-set-rule-drives-volatility-in-renewable-diesel-margins

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.