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The Institute for Energy Research and co-signers wrote to EPA Administrator Pruitt backing proposed revisions to Renewable Volume Obligations for biomass-based diesel for 2018 and 2019. The letter argues biodiesel costs about $1.74 per gallon more than petroleum diesel and that the mandate conflicts with energy independence goals.
A lower biodiesel mandate would reduce demand for soybean oil used in biodiesel, which is bearish for soybean oil and supportive of diesel-blend economics, while keeping the RFS intact supports soy crush demand.
cei.orgBen LiebermanJan 30, 2018After 351 past bearish policy events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 554 past neutral policy events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), 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.
