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The EPA set the 2017 total renewable fuel target at 19.28 billion gallons, above the 18.8 billion initially proposed. The agency raised the volumes after the government revised its 2017 estimates.
A higher ethanol and biofuel mandate supports corn grind demand for ethanol and the DDGS byproduct supply that follows, while lifting vegetable oil demand.
reuters.comChris PrenticeNov 23, 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.
