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Four farmers said on a September 26 conference call that the 85 Small Refinery Exemptions granted by the Trump administration are destroying demand for corn and soybeans. They cited plant closures and idled ethanol and biodiesel capacity across several states.
Exemptions that reduce mandated biofuel blending cut feedstock demand for corn and soybean oil, weighing on prices and pressuring the industry to seek policy changes.
farmprogress.comSep 26, 2019After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.
