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Biofuel and farm groups, including the RFA, NCGA and ASA, asked congressional leaders to include ethanol and biodiesel producers in the next COVID-19 relief package. They said more than 130 biofuel plants have partly or fully shut down and that USDA excluded the sector from initial CARES Act aid.
If the industry is left out of relief, continued plant shutdowns would reduce corn and soybean oil demand and weigh on farm prices.
ethanolrfa.orgRenewable Fuels AssociationMay 11, 2020After 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, SBO 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.
