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Senator James Lankford joined a group of Republican senators in urging EPA Administrator Andrew Wheeler to reset conventional biofuel volumes below 10 percent of projected 2020 gasoline demand. The letter cites the ethanol blend wall as a reason to limit the mandate.
A lower conventional biofuel volume would reduce demand for corn used in ethanol, which is bearish for corn. The final rule will set how much the reset actually cuts.
lankford.senate.govMay 1, 2019After 310 past bearish policy events, Corn moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.6% 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.
