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Four major US farm groups asked the Treasury and OMB to restrict imported biofuel feedstocks from the 45Z Clean Fuel Production Credit, which begins January 1, 2025. Canadian canola officials said the proposal would be a major blow to the sector, which has been developing US biofuel markets.
If imported feedstocks are restricted, Canadian canola and other foreign oilseed exports to the US biofuel market would lose a key outlet, pressuring canola prices while supporting domestic US soybean oil demand.
producer.comSean PrattJul 19, 2024Not enough comparable past events yet for a historical read.
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.
