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Representatives David Young and Collin Peterson introduced a bipartisan bill requiring EPA to reallocate biofuel gallons lost to small refinery waivers. The EPA granted 49 waivers for 2016 and 2017, which it says removed 2.25 billion gallons of renewable volume obligations.
The bill would also require public disclosure of waiver requests.
If enacted, reallocation would restore lost biofuel demand, supporting ethanol and soybean oil prices. The bill's prospects remain uncertain, so the price effect is currently limited.
dtnpf.comTodd NeeleySep 7, 2018After 842 past bullish policy events, SBO 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.
