Loading…
The EPA set Renewable Fuel Standard biodiesel mandates at 2 billion gallons for 2017 and 2.1 billion for 2018, a 100 million gallon increase. The industry had asked for higher volumes, and production was projected at 2.6 billion gallons.
A higher biomass-based diesel mandate supports demand for soybean oil and other feedstocks, which is bullish for soybean oil prices.
agweek.comMichelle Rook, Special to AgweekJan 3, 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.
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.
