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The Iowa Soybean Association and Iowa Biodiesel Board applauded the EPA's finalized Renewable Fuel Standard volumes and its denial of a backlog of small refinery exemptions. The groups said the rule supports biofuel growth in 2023.
They cited biodiesel's role in supporting soybean prices and reducing livestock feed costs.
Stable, growing biodiesel mandates support domestic soybean oil demand and crush margins. Lower feed costs from biodiesel co-products are a modest offset for livestock buyers.
iasoybeans.comIowa Soybean AssociationJun 9, 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.
