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The National Biodiesel Board and American Soybean Association sent a joint letter dated August 21 to the White House requesting a meeting with Trump on small refinery exemptions and the RFS. They said demand destruction is forcing biodiesel producers out of business.
Biodiesel plant closures reduce soybean oil demand and crush margins, which is bearish for soybean oil and soybean meal supply pressure.
bioenergyinternational.comBioenergy InternationalAug 22, 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.
