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The EPA finalized Renewable Fuel Standard volumes calling for 15 billion gallons of corn-based ethanol in 2017, about 200 million gallons above the May proposal. Total biofuel volume was set at 19.28 billion gallons, up 6% from 2016.
The National Chicken Council said the RFS has raised feed costs and warned poultry producers could face higher prices.
Higher corn-based ethanol mandates divert more corn to fuel use, tightening feed grain supply and supporting corn and soybean oil prices. This raises feed costs for poultry and livestock producers.
meatingplace.comChris ScottDec 5, 2016After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 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.
Not enough comparable past events yet for a historical read.
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.
