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Clean Fuels America Alliance asked the EPA to raise the advanced biofuel mandate by 1 billion gallons a year, to 7.63 billion gallons in 2024. The EPA has a November 30 deadline to set the Renewable Fuel Standard for 2023 and possibly 2024.
A larger federal biofuel mandate would increase demand for soybean oil and other feedstocks, supporting vegetable oil prices if the EPA adopts it; the outcome remains uncertain.
agriculture.comFERN's Ag InsiderNov 15, 2022After 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.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
