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A coalition of US biofuel and farm groups filed a motion on Nov. 23 asking the D.C.
Circuit to enforce its 2017 ruling that EPA improperly waived 500 million gallons of 2016 biofuel demand. The groups say EPA has not reopened the 2016 renewable volume obligation or restored the lost RINs.
If the court enforces the ruling and EPA restores the 500 million gallons, biofuel demand for corn ethanol, soybean oil and sorghum would rise, supporting feedstock prices. The outcome remains uncertain and is a slow legal process.
biobased-diesel.comThe National Biodiesel BoardNov 23, 2020After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 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.
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.
