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Three sources say the EPA will likely keep 2021 and 2022 Renewable Fuel Standard blending volumes in line with 2020 levels, citing weaker fuel demand from the pandemic. The agency plans to issue the formal volume proposals this summer.
Holding volumes flat removes expected growth in biofuel demand for corn ethanol and soybean oil, which is bearish relative to prior expectations of increases.
hydrocarbonprocessing.comMay 20, 2021After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% over 20.
After 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.
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.
