The governors of Louisiana and Alabama, backed by Arkansas and Texas, asked the EPA to partially exempt their states from 2027 Renewable Fuel Standard requirements, arguing that a waiver would lower fuel prices. The American Soybean Association and biofuels groups urged the EPA to deny the request, warning it would damage domestic soybean markets.
Waiving RFS volumes would reduce demand for biofuel feedstocks such as soybean oil and weigh on soybean crush economics, which is bearish for soy complex prices if the EPA grants the petition.
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.
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.