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The Iowa Soybean Association backed Governor Reynolds' bill to phase in higher biodiesel blends, starting with a 11% standard from April to September in 2022 and rising to B20 by April 2024. The bill also adds $5 million for the Renewable Fuels Infrastructure Program.
The association estimates it would raise biodiesel demand by 203 million gallons and soybean demand by 108 million bushels over five years.
A mandated biodiesel phase-in would lift demand for soybean oil and, through crush, soybeans and corn-based ethanol demand as well. The price effect depends on whether the bill passes.
iasoybeans.comIowa Soybean AssociationFeb 25, 2021After 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.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
