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A bipartisan group of 33 senators led by Heitkamp, Blunt, Murray and Grassley urged EPA to raise its proposed 2019 biomass-based diesel volume. They also asked EPA to drop its plan to cut 2018 advanced biofuel volumes.
The senators warned that reductions could cost rural jobs.
Bipartisan pressure for higher biodiesel volumes supports soybean oil demand expectations, which is bullish for that product. The letter is advocacy and does not set the final rule.
grassley.senate.govOct 16, 2017After 842 past bullish policy events, Soybean Oil 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.
