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The EPA's final renewable fuel standard rule set 2023 biomass-based diesel volumes at 2.82 billion gallons, raised 2024 to 3.04 billion and 2025 to 3.35 billion gallons. Industry groups in the US and Canada criticized the mandates as well short of expectations.
Mandates well below the roughly nine billion gallons of planned renewable diesel capacity reduce expected oilseed demand from biofuel plants, which weighs on soybean oil and canola prices.
producer.comSean PrattJun 29, 2023After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
Not enough comparable past events yet for a historical read.
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.
