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More than a dozen Corn Belt senators, led by a bipartisan group, asked EPA to use the upcoming 2023 RFS set rule to raise biofuel blending targets. They also urged extending the year-round E-15 waiver and changing other RFS rules.
EPA is expected to release the proposal later in 2022.
Higher renewable volume obligations would increase demand for soybean oil and corn-based ethanol feedstocks, which supports prices for both if EPA adopts them.
farmweeknow.comTIMOTHY EGGERT FarmWeekOct 26, 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 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.
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.
