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EPA held a public hearing in Ypsilanti, Michigan on the proposed 2020 renewable volume obligations and 2021 biomass-based diesel volume. Witnesses focused on how EPA accounts for volumes waived under small refinery exemptions.
Uncertainty over whether waived gallons will be reallocated keeps expected ethanol and biodiesel demand unclear, a modest bearish factor for corn and soybean oil.
energy.agwired.comJul 31, 2019After 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.
After 196 past neutral policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), 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.
