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The American Soybean Association said on October 15, 2019 that the EPA's supplemental proposal estimates future small refinery exemptions but does not use a three-year rolling average of volumes actually waived. Instead it relies on Department of Energy forecasts.
The group warns this leaves a loophole that could let waivers keep eroding renewable volumes.
If the Department of Energy forecasts understate waivers, biofuel demand for soybean oil and corn would fall short of what the policy intends, which would weigh on those prices.
soygrowers.comOct 15, 2019After 196 past neutral policy events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), and -0.5% 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.
