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The EPA raised the renewable fuel standard, with total renewable fuel volumes rising 1.2 billion gallons from 2016 to 2017 and conventional volumes reaching 15 billion gallons. Ethanol industry groups said the move signals support for the RFS and investment in the sector.
The larger ethanol mandate increases corn demand for ethanol production, supporting corn prices, while biodiesel growth supports soybean oil.
hoosieragtoday.comProductionNov 25, 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.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
