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The American Soybean Association welcomed the EPA's 2022 blending volumes, including the largest-ever biomass-based diesel obligation. The group also praised the agency's denial of 69 pending small refinery exemption petitions.
Volumes were slightly below the December proposal but above prior years.
Record biomass-based diesel mandates support soybean oil demand and give soybean growers a firmer outlook for crush and oil use. Confirmed SRE denials reduce the risk of blending waivers that would weaken demand.
soygrowers.comJun 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.
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.
