# Did fake news spark Tuesday’s market rally? – Ohio Ag Net | Ohio's Country Journal

> On February 28, 2017 corn and soybean futures in Chicago jumped after leaked reports of Renewable Fuels Standard changes, including more summer ethanol usage and a tax credit for domestic biodiesel producers. The White House did not confirm the reports, and over 350,000 May corn contracts traded that day, a record.

- Date: 2017-03-01 · published 2017-03-01T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/7825-did-fake-news-spark-tuesday-s-market-rally-ohio-ag-net-ohio-s-country-journal
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected RFS changes would lift ethanol and biodiesel demand, and the record volume shows how strongly the market reacted. Prices may reverse if the rumored changes are not adopted.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-12-01 | [Final RFS figures closely resemble July proposal - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/67352-final-rfs-figures-closely-resemble-july-proposal-agweek-1-source-for.md) | +0.4% | +6.2% |
| CORN | 2025-02-20 | [Renewable fuels aren't going away, speakers at Evolution Ag Summit say - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/15148-renewable-fuels-aren-t-going-away-speakers-at-evolution-ag-summit-say-agweek-1.md) | -5.1% | -2.4% |
| CORN | 2021-02-05 | [Daily Market Wire 5 February 2021 - Grain Central](https://feedsoft.ai/events/9448-daily-market-wire-5-february-2021-grain-central.md) | -2.2% | -4.1% |
| CORN | 2026-09-16 | [Farm Bill 2.0 passes the Senate Agriculture Committee - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/17470-farm-bill-2-0-passes-the-senate-agriculture-committee-agweek-1-source-for.md) | -0.6% | -5.6% |
| CORN | 2019-07-01 | [Farmers give new dairy safety net a try \| Capital Press](https://feedsoft.ai/events/4200-farmers-give-new-dairy-safety-net-a-try-capital-press.md) | +1.3% | +0.2% |
| SOY | 2017-09-01 | [NBB: RFS Proposal Runs Counter to Congress's Intent; Volumes Should Be Higher - Fuels Market News](https://feedsoft.ai/events/68827-nbb-rfs-proposal-runs-counter-to-congress-s-intent-volumes-should-be-higher.md) | +2.2% | +3.4% |
| SOY | 2021-07-25 | [Soaring demand for soy renewable diesel will change markets - High Plains Journal](https://feedsoft.ai/events/45933-soaring-demand-for-soy-renewable-diesel-will-change-markets-high-plains-journal.md) | +1.0% | -7.7% |
| SOY | 2023-07-25 | [Unpicking the Huge Rally in Oilseed Markets \| CZ app](https://feedsoft.ai/events/11933-unpicking-the-huge-rally-in-oilseed-markets-cz-app.md) | -5.1% | -10.1% |

## Sources

- ocj.com: https://ocj.com/2017/03/did-fake-news-spark-tuesdays-market-rally/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.