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The American Soybean Association said the EPA's final 2020-21 RFS rule uses a three-year average of DOE-recommended waivers instead of actual EPA waivers. The rule holds 2021 biomass-based diesel volume flat at 2.43 billion gallons, with no growth for biodiesel.
Flat biodiesel volumes remove expected growth in soybean oil demand, which is bearish for soy oil prices and soybean crush economics. The rule also underestimates future small refinery exemptions, adding policy uncertainty.
soygrowers.comDec 19, 2019After 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 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.
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.
