
The EPA is finalizing Renewable Volume Obligations under the Renewable Fuel Standard, with volumes sent to the White House OMB and expected by a June 3 consent decree deadline. Stakeholders are also looking to the agency's approach to multi-year volume setting for 2023 and beyond.
Clearer multi-year RFS targets support long-run demand for corn-based ethanol and soybean oil, which underpins feedstock prices.
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.
After 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.
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.