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The EPA said on Tuesday it was seeking comment on a draft proposal to reduce 2018 biodiesel blending requirements, and that it could issue waivers under the Renewable Fuel Standard. Soyoil fell to a five-week low of 33.23 cents per pound on worries about lower biodiesel demand.
Lower mandated biodiesel blending cuts domestic demand for soybean oil, pressuring soyoil and soybean crush economics, which weighs on soybean meal values as well.
governorsbiofuelscoalition.orgSep 27, 2017After 351 past bearish policy events, SBO 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, SOY moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
After 223 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), 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.
