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Five governors asked the Trump administration to waive 2020 biofuel blending requirements, citing a doubling of tradable credit costs and collapsing fuel demand. The Renewable Fuels Association and the National Biodiesel Board pushed back, arguing the waiver standard of severe economic harm is not met.
A waiver would reduce required ethanol and biodiesel blending, cutting demand for corn and soybean oil. Industry opposition makes a waiver less likely, so the price risk is mainly a sentiment factor for now.
feedstuffs.comApr 17, 2020After 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.
After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), and -0.5% 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.
