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The American Bakers Association testified on January 4, 2022 asking EPA to reduce proposed advanced biofuel volume obligations. The EPA had proposed 2022 renewable volume obligations of 20.77 billion gallons, an all-time high, and the bakers said soybean oil is being diverted from food use.
If EPA trims the proposed advanced biofuel mandate, less soybean oil would be diverted to biofuels, reducing support for soybean oil prices.
supermarketperimeter.comJosh SoslandJan 5, 2022After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
