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The American Soybean Association said the EPA's proposed biomass-based diesel volume of 2.1 billion gallons for 2019 and advanced biofuel volume of 4.24 billion gallons for 2018 are disappointing. The group had urged 2.75 billion gallons for biomass-based diesel and noted about 2.9 billion gallons of biodiesel and renewable diesel were used in 2016.
Industry pushback signals that soybean oil demand from biodiesel may stay constrained, keeping pressure on soyoil values and the soybean crush.
soygrowers.comJul 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 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), 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.
