# U.S. renewable fuel mandate muddies demand outlook - Manitoba Co-operator

> Canola futures held above C$700 per tonne but met resistance above C$720 during the week. The EPA finalized 2023-25 renewable fuel targets, which were higher than the December proposal but short of industry hopes.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/35587-u-s-renewable-fuel-mandate-muddies-demand-outlook-manitoba-co-operator
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Uncertainty over whether US biodiesel demand will expand as expected weighs on soyoil and canola, while the market had been trending higher.

## Read by commodity

- SBO: bearish ▼
- CANMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-06-25 | [NBB: SREs are harming demand for biodiesel, renewable diesel \| Biomass Magazine](https://feedsoft.ai/events/58473-nbb-sres-are-harming-demand-for-biodiesel-renewable-diesel-biomass-magazine.md) | -1.3% | -1.2% |
| SBO | 2026-03-23 | [Renewable Diesel Policy Uncertainty Clouds Soybean Crush Outlook -](https://feedsoft.ai/events/15044-renewable-diesel-policy-uncertainty-clouds-soybean-crush-outlook.md) | +0.7% | +4.1% |
| SBO | 2023-11-20 | [Feature: US RINs complex under pressure while renewable diesel helps RVO mandates \| S&P Global](https://feedsoft.ai/events/15261-feature-us-rins-complex-under-pressure-while-renewable-diesel-helps-rvo.md) | +1.2% | -1.4% |
| SBO | 2020-04-16 | [Five oil-refining states ask US EPA to waive biofuel mandate amid plunging fuel demand \| S&P Global](https://feedsoft.ai/events/53530-five-oil-refining-states-ask-us-epa-to-waive-biofuel-mandate-amid-plunging-fuel.md) | -3.7% | -3.5% |
| SBO | 2022-04-13 | [New relaxations of blending mandates could reduce demand](https://feedsoft.ai/events/15405-new-relaxations-of-blending-mandates-could-reduce-demand.md) | +3.8% | +5.2% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/markets/u-s-renewable-fuel-mandate-muddies-demand-outlook/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.