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Industry sources expected the EPA to issue preliminary 2018 Renewable Volume Obligations within days, with market expectations of 15 billion gallons for conventional RINs and 4.5 billion gallons of advanced biofuel RINs. Estimates pointed to marginally higher targets than 2017, and one analyst said a 4.5 billion gallon advanced biodiesel target would be bullish for biodiesel RINs.
A higher biomass-based diesel mandate would increase soybean oil demand for biodiesel and support the D4 RIN market. A figure at or below expectations would weigh on soybean oil and related feedstock prices.
plazamarinegroup.comJun 9, 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 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.
