The American Soybean Association, National Biodiesel Board and National Renderers Association wrote to President Trump urging him to protect the Renewable Fuel Standard. They objected to EPA hardship waivers granted to several profitable refiners for the 2016 and 2017 compliance years.
A bipartisan group of 13 senators also wrote to EPA on the issue.
Waivers that remove RFS volume obligations reduce biodiesel and ethanol demand, which weighs on soybean oil and corn values. Continued uncertainty over the RFS keeps a risk premium on soyoil.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.