
DTN reported that the EPA proposal would raise total RFS volumes by about 120 million gallons in 2020, with corn ethanol held at 15 billion gallons. Biodiesel volume stays at 2.43 billion gallons in 2021, and the National Biodiesel Board called the proposal a chilling signal.
Stagnant biodiesel and conventional ethanol volumes cap demand growth for soybean oil and corn, weighing on feedstock prices.
After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 439 past neutral policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.