Loading…
Biofuel companies met White House officials on September 11 to discuss making up for ethanol usage exempted by refinery waivers. A proposed deal would include 500 million gallons from a 2017 court case, additional compliance credits and a 250-million-gallon boost to 2021 biodiesel targets, but no trade associations were invited.
A potential deal to restore exempted volumes and boost biodiesel targets would support corn and soybean oil demand, while limits on future exemptions would tighten supply of renewable fuel credits.
agri-pulse.comBen NuelleSep 11, 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.
White House biofuel talks on Sept 11 about offsetting refinery waivers, including a 250-million-gallon boost to 2021 biodiesel targets, raised expected demand for soybean oil as a biodiesel feedstock.
White House talks on making up for ethanol volumes lost to refinery waivers, including a 250-million-gallon boost to 2021 biodiesel targets, point to higher biofuel feedstock demand and support soybean oil.
