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EPA proposed raising the biomass-based diesel volume standard from 2.1 billion gallons in 2019 to 2.43 billion gallons in 2020. The increase was presented to biodiesel industry attendees at a National Biodiesel Board meeting in Washington on June 26.
Industry leaders called the number very positive for biodiesel growth.
A higher biodiesel mandate would increase demand for soybean oil and other feedstocks, supporting soybean values. The proposal is not final, so its effect on prices remains conditional.
morningagclips.comAubreyJul 3, 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.
