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The National Biodiesel Board is lobbying the Trump administration to raise the biodiesel renewable volume obligation to 2.75 billion gallons, up from 2.1 billion last year. The group says it expects support from the administration for the Renewable Fuel Standard.
A higher biodiesel mandate would increase demand for soybean oil and rendering fats, supporting soybean oil prices and boosting soybean crush output for meal supply. The request is not yet a rule, so the impact is limited for now.
brownfieldagnews.comMark DorenkampMay 5, 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 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
