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The National Biodiesel Board praised the bipartisan Renewable Fuel Standard Integrity Act of 2019, which would require small refineries to petition for hardship exemptions by June 1 each year. The NBB said EPA's recent wave of retroactive small refinery exemptions destroyed demand for more than 360 million gallons of biodiesel and renewable diesel over 16 months.
If passed, the bill would tighten the handling of exemptions and could restore biofuel demand that weighs on soybean oil and soybean crush margins. The market impact depends on whether the bill advances and how EPA sets the next volume obligations.
grainjournal.comMay 24, 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 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
