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The National Biodiesel Board COO said the EPA continues to underestimate industry capacity, which he puts at 4.2 billion gallons annually. The proposed cuts would reduce that by nearly half a billion gallons.
Final 2018 and 2019 RVO numbers are expected around the end of November.
Expected cuts to biodiesel demand point to softer soybean oil prices, while the final rule timing creates a near-term catalyst.
brownfieldagnews.comMark DorenkampSep 29, 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.
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.
