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Farm groups, biofuel industries and congressional allies pressed the White House over refinery waivers exempting 31 refineries from biofuel blending rules. Farmers also complained that a USDA crop report did not reflect spring flood damage.
Political pressure may push the administration to restore biofuel demand, a potential support for corn and soybean prices, but no policy change has been made yet.
hydrocarbonprocessing.comAug 22, 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.
