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The American Soybean Association and National Biodiesel Board testified at an EPA hearing in Michigan opposing zero-growth biomass-based diesel volumes. They argued retroactive small refinery exemptions undermine the program and that soybean prices are at a 10-year low.
Continued pressure against flat RFS volumes highlights weak biodiesel demand, which keeps soybean oil and soybean prices under pressure.
soygrowers.comAug 5, 2019After 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.
