
The White House said it will keep its 2020 biofuel plan despite objections from farm groups. The Renewable Fuel Standard requires refiners to blend about 15 billion gallons of corn-based ethanol each year, with exemptions for small refineries.
Keeping the 15 billion gallon ethanol mandate supports corn demand for ethanol. Holding the plan without the farm-requested changes keeps soybean oil biodiesel demand constrained.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
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.