# Biofuels in the Midwest: Today and Tomorrow - Federal Reserve Bank of Chicago

> A Chicago Fed article summarizes the Midwest biofuels outlook from its 2021 Agriculture Conference. Speaker Scott Irwin describes ethanol and biodiesel as shaped by renewable fuel standard policy and volatile fuel prices, with ongoing pandemic effects, electric vehicles and a new administration adding uncertainty.

- Date: 2021-12-14 · published 2021-12-14T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/43609-biofuels-in-the-midwest-today-and-tomorrow-federal-reserve-bank-of-chicago
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Biofuel policy and fuel-price volatility determine how much corn and vegetable oil goes into fuel, so the policy uncertainty affects longer-term demand for these feedstocks.

## Read by commodity

- SBO: neutral
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-02-09 | [Behind the Hot Year for Biofuels M&A: 2021 Review and Outlook  : The Daily Digest](https://feedsoft.ai/events/42710-behind-the-hot-year-for-biofuels-m-and-a-2021-review-and-outlook-the-daily.md) | +0.5% | +15.2% |
| CORN | 2019-07-29 | [Federal Register
       :: 
      Renewable Fuel Standard Program: Standards for 2020 and Biomass-Based Diesel Volume for 2021, Response to the Remand of the 2016 Standards, and Other Changes](https://feedsoft.ai/events/57954-federal-register-renewable-fuel-standard-program-standards-for-2020-and-biomass.md) | -0.6% | -10.6% |
| CORN | 2019-02-05 | [Biofuels and Big Oil make their case on RFS before 2022 \| 2019-02-05 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/60466-biofuels-and-big-oil-make-their-case-on-rfs-before-2022-2019-02-05-agri-pulse.md) | +0.0% | -1.1% |
| CORN | 2018-11-30 | [RFS levels fail to offer forward advance on biofuels demand](https://feedsoft.ai/events/61902-rfs-levels-fail-to-offer-forward-advance-on-biofuels-demand.md) | +8.0% | +8.5% |
| CORN | 2017-03-15 | [Why Carl Icahn And Valero Are Pushing For Biofuels Changes In Washington \| OilPrice.com](https://feedsoft.ai/events/71866-why-carl-icahn-and-valero-are-pushing-for-biofuels-changes-in-washington.md) | +1.0% | +1.9% |
| SBO | 2025-01-02 | [A Glimpse into the Unknown Future of US Biofuels](https://feedsoft.ai/events/15153-a-glimpse-into-the-unknown-future-of-us-biofuels.md) | -0.6% | +10.7% |
| SBO | 2019-07-29 | [Federal Register
       :: 
      Renewable Fuel Standard Program: Standards for 2020 and Biomass-Based Diesel Volume for 2021, Response to the Remand of the 2016 Standards, and Other Changes](https://feedsoft.ai/events/57954-federal-register-renewable-fuel-standard-program-standards-for-2020-and-biomass.md) | -1.0% | -0.5% |
| SBO | 2019-02-05 | [Biofuels and Big Oil make their case on RFS before 2022 \| 2019-02-05 \| Agri-Pulse \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/60466-biofuels-and-big-oil-make-their-case-on-rfs-before-2022-2019-02-05-agri-pulse.md) | +0.4% | -1.3% |

## Sources

- chicagofed.org: https://www.chicagofed.org/publications/blogs/chicago-fed-insights/2021/biofuels-in-the-midwest

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