◂ Event Timeline

Apr 22, 2020POLICYUS

The 2020 Renewable Fuel Standard (RFS): COVID-19 Impacts

A CRS report examines how COVID-19 may affect the 2020 Renewable Fuel Standard, noting transportation fuel demand has dropped sharply since early March. It flags that Congress or EPA may need to act on the 2020 volume requirements given refinery economics and fuel price uncertainty.

WHY IT MATTERS

Lower fuel demand cuts the renewable fuel blending needed, which weakens demand for corn-based ethanol and soybean oil feedstock. Any EPA or congressional action on the mandate would move corn and soyoil prices.

AFFECTSCorn▼Soybean Oil▼

SOURCE
everycrsreport.comApr 22, 2020

Price reaction & history

Corn▼bearishSO FAR1d +1.6%5d -1.2%20d +1.6%

After 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.

Jan 19, 2021Federal Register :: Notice of Receipt of Petitions for a Waiver of the 2019 and 2020 Renewable Fuel Standards+0.0%
Jun 23, 2025One Big Beautiful Bill Act (H.R. 1): Title I, Farm Safety Net and Miscellaneous Provisions - EveryCRSReport.com-1.5%
May 13, 2020Biofuel producers aim to meet volume requirements despite COVID-19 impacts | 2020-05-12 | Agri-Pulse Communications, Inc.-0.3%
Sep 15, 2023EU to carry out surveillance on fuel ethanol imports amid steep increases since 2021-7.1%
May 11, 2020RFA, Other U.S. Farm & Biofuel Leaders Ask Congress for COVID-19 Relief-1.4%

Soybean Oil▼bearishSO FAR1d +0.9%5d -0.2%20d +6.9%

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.

Corn CORN · GP ▸

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Soybean Oil SBO · GP ▸

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