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The American Soybean Association delivered testimony at an EPA Renewable Fuel Standard hearing in Michigan, praising the agency's proposed volume growth. The group said the U.S. has the production capacity and feedstock to support even higher volumes.
Written comments are due August 17.
Higher proposed biomass-based diesel volumes would expand demand for soybean oil, supporting soybean oil values and crush margins. The effect depends on the final rule, which has not yet been issued.
soygrowers.comJul 19, 2018After 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.
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.
