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ASA Vice President John Heisdorffer told an EPA hearing in Washington that RFS biodiesel volumes should rise to at least 2.75 billion gallons for 2019 and advanced biofuels to 5.25 billion gallons for 2018. He said biodiesel demand for soybean oil also improves soybean crush margins and lowers feed costs.
He cited a 2015 analysis putting feed savings at $5.9 to $11.8 billion.
Strong biodiesel demand supports soybean oil prices and crush economics, while more crush increases meal supply. The testimony is advocacy and does not change the mandate itself.
soygrowers.comAug 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 223 past bearish policy events, Soybean Meal 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.
