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The EIA reports that US biodiesel production through the first nine months of 2017 was slightly above 2016 levels despite the expiration of the federal blender's tax credit at the end of 2016. Imports from Argentina and Indonesia have grown since 2014, and recent US Commerce Department import policy changes may support domestic output.
Steady US biodiesel output supports soybean oil and vegetable oil demand, while import restrictions on Argentine and Indonesian biodiesel could shift feedstock flows.
dc59742088.nxcli.netAnn LewisDec 5, 2017
web2v10.hydrocarbonprocessing.comDec 1, 2017Not enough comparable past events yet for a historical read.
After 439 past neutral policy events, CORN moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% over 20.
After 513 past neutral policy events, PALMOIL moved a median 0.0% over 5 sessions (50% higher; middle half -1.6% to +1.4%), and -0.1% over 20.
After 841 past bullish policy events, SBO 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.
