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The American Soybean Association criticized the EPA's final biodiesel and advanced biofuels volumes released November 30, 2017. The rule sets biomass-based diesel at 2.1 billion gallons for 2019, the same level as 2018, and advanced biofuels at 4.29 billion gallons for 2018.
ASA said it had pushed for 2.5 billion gallons of biomass-based diesel.
Flat biodiesel volumes limit demand growth for soybean oil, a key feedstock, which weighs on soy oil prices and crush margins. Soybean meal supply from crushing is unaffected in the near term.
soygrowers.comNov 30, 2017After 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 554 past neutral policy events, Soybeans 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.
