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The National Biodiesel Board formally called for higher advanced biofuel and biomass-based diesel volumes in comments on EPA's 2018 and 2019 RFS proposal. It criticized the proposed cut to advanced biofuels and the freeze in biomass-based diesel.
The NBB says the industry reduces soybean meal prices by using surplus oils.
Industry pressure for higher volumes signals upside risk to soybean oil demand if EPA raises targets, but the outcome is uncertain.
fuelsmarketnews.comFuels Market NewsSep 1, 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.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
