The EPA held a virtual hearing on its proposal to reallocate renewable fuel obligations lost to small refinery exemptions. The Renewable Fuels Association urged full reallocation of 770 million RINs, and the American Coalition for Ethanol also backed the plan.
Full reallocation would restore demand for renewable fuels such as biodiesel and ethanol, supporting soybean oil and corn use in biofuels and their prices.
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 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.
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.