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Senators Grassley, Ernst, Thune and Durbin wrote to EPA urging larger renewable volume obligations in the upcoming RFS set rule. They asked for a conventional target above 15 billion gallons and higher advanced biofuel volumes.
The request signals congressional pressure for higher biofuel blending, which would support soybean oil and corn demand, but it is a lobbying letter rather than a final rule.
grassley.senate.govOct 19, 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.
