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The National Biodiesel Board CEO says EPA is considering 52 newly filed small refinery exemption petitions, with refiners raising the count to 58 covering 2011 to 2016. He adds that prior exemptions destroyed over 500 million gallons of biodiesel demand and the gap petitions could remove another 300 million gallons or more.
Potential loss of biodiesel demand from exemptions is bearish for soyoil and supports weaker soybean oil use in biofuels.
biofuelsdigest.comJim LaneJul 20, 2020After 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.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
