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The EPA proposed a 2020 renewable fuel volume of 20.04 billion gallons, a 0.6% increase over the 2019 quota of 19.92 billion gallons. The proposal would require refiners and importers to blend this volume.
A modest increase in the biofuel mandate supports soybean oil and corn ethanol demand, though the small increase limits the price effect.
farmprogress.comBloombergJul 5, 2019After 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.
After 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.
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.
