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The EPA released a notice on September 26 inviting comment on potential cuts of 315 million gallons to biomass-based diesel, lowering advanced and total renewable fuel volumes. The notice cites concerns about biodiesel imports.
The National Biodiesel Board pushed back on the proposal.
A 315 million gallon biodiesel cut would reduce soybean oil demand for biofuel, a bearish factor for soy oil and palm oil prices.
agri-pulse.comSpencer ChaseSep 26, 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 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
