# RFS 2017 announcement boosts soy and palm oil prices around the world  : The Daily Digest

> The EPA's 2017 Renewable Fuel Standard volumes, announced Wednesday, came in above expectations for biodiesel blending. Soyoil futures in Chicago jumped nearly 7% on the news, and Malaysian palm oil reached a four-year high while Chinese soy and palm oil futures also rose.

- Date: 2016-11-24 · published 2016-11-24T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/6689-rfs-2017-announcement-boosts-soy-and-palm-oil-prices-around-the-world-the-daily
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Higher biofuel mandates raise demand for vegetable oils used in biodiesel, tightening oil supplies and lifting soyoil and palm oil prices. Soybean meal is less directly supported because the oil and meal come from the same crush.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-04-08 | [Argentina raises biodiesel price to $635.5 per ton for April  : The Daily Digest](https://feedsoft.ai/events/59468-argentina-raises-biodiesel-price-to-635-5-per-ton-for-april-the-daily-digest.md) | -0.7% | -7.9% |
| SBO | 2023-03-03 | [The B35 programme makes Indonesia a barometer of world palm oil price](https://feedsoft.ai/events/15747-the-b35-programme-makes-indonesia-a-barometer-of-world-palm-oil-price.md) | -2.8% | -8.8% |
| SBO | 2023-08-28 | [Argentina announces fourth soy dollar scheme to boost sales](https://feedsoft.ai/events/13957-argentina-announces-fourth-soy-dollar-scheme-to-boost-sales.md) | -0.5% | -8.4% |
| SBO | 2025-01-04 | [Edible Oil Prices in 2025: Palm Oil Drops, Check Latest Mustard and Soybean Oil Rates](https://feedsoft.ai/events/26620-edible-oil-prices-in-2025-palm-oil-drops-check-latest-mustard-and-soybean-oil.md) | +3.7% | +12.3% |
| SBO | 2019-07-16 | [UFOP says that without biodiesel blending vegetable oil prices would collapse further  : The Daily Digest](https://feedsoft.ai/events/58194-ufop-says-that-without-biodiesel-blending-vegetable-oil-prices-would-collapse.md) | -1.9% | +4.8% |
| PALMOIL | 2023-03-03 | [The B35 programme makes Indonesia a barometer of world palm oil price](https://feedsoft.ai/events/15747-the-b35-programme-makes-indonesia-a-barometer-of-world-palm-oil-price.md) | -2.5% | -7.8% |
| PALMOIL | 2019-07-16 | [UFOP says that without biodiesel blending vegetable oil prices would collapse further  : The Daily Digest](https://feedsoft.ai/events/58194-ufop-says-that-without-biodiesel-blending-vegetable-oil-prices-would-collapse.md) | +0.6% | +8.6% |
| PALMOIL | 2017-02-03 | [Low palm oil stocks in Indonesia boost prices](https://feedsoft.ai/events/12321-low-palm-oil-stocks-in-indonesia-boost-prices.md) | +0.7% | -7.2% |

## Sources

- biofuelsdigest.com: https://biofuelsdigest.com/rfs-2017-announcement-boosts-soy-and-palm-oil-prices-around-the-world/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.