
Governors of oil-producing US states, including Louisiana and Alabama, have asked the EPA for exemptions from the mandatory biofuel blending requirement, with the Texas governor reportedly joining. The American Soybean Association has asked the EPA to reject the petitions.
Lower biofuel blending volumes would cut domestic demand for soybean oil, a key biodiesel feedstock, which could pressure soybean oil and soybean crush prices.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% 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.