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The US EPA released its final Renewable Fuel Standard rule on June 3, 2022, setting 2022 biomass-based diesel volumes at 2.76 billion gallons, up about 14% from 2021. Total 2022 biofuel obligations were set at 20.63 billion gallons, while advanced biofuel volumes were trimmed from the December proposal.
The agency also cut 2020 total volumes retroactively and denied 69 small refinery exemption petitions.
Higher mandated biodiesel and renewable diesel volumes increase demand for soybean oil and corn-based ethanol, supporting feedstock prices. The denial of exemptions tightens expected blending demand.
biobased-diesel.comRon KotrbaJun 3, 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.
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.
