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The American Soybean Association welcomed the October 4, 2019 Renewable Fuel Standard agreement between the White House, EPA and USDA. The group said the supplemental proposal addresses the flood of small refinery waivers by incorporating expected waivers into volumes based on a three-year average.
ASA also urged continued growth in RFS volumes and better program implementation.
Support from major farm and biofuel groups signals likely finalization of the policy, which would keep biofuel demand for corn and soybean oil on a firmer footing.
soygrowers.comOct 4, 2019After 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 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), 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.
