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On July 5, 2017, the EPA proposed 2018 Renewable Fuel Standard volumes that keep renewable fuel levels comparable to 2017 standards, citing limits on cellulosic and advanced biofuel growth. The agency said it is on track to finalize the Renewable Volume Obligations by the November 30 statutory deadline.
Flat biofuel mandates leave biodiesel demand for soybean oil without the growth the industry sought, which is mildly bearish for soyoil and the crush margin that supports soymeal supply.
epa.govUS EPA,OAJul 5, 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 439 past neutral policy events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.3% to +1.2%), and +1.1% 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.
