The Administration recently made changes that biofuel groups say will help keep fuel prices down. Blending requirements came in well-above industry expectations, and it is a move analysts say will lift up soybean growers, but they warn it will not happen overnight.
“I think this really is a long well, at least it’s a multi-year, you know, step in a domestic demand increase picture to help support soybean prices,” said Ben Brown, Extension Agricultural Economist - University of Missouri.
The EPA is accepting public comments before any action can be taken on those blending proposals. The cutoff date to voice your concerns is August 8th.
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Traders say that shift could eventually prompt the USDA to scale back soybean export projections, noting the outlook differs greatly for other grain commodities.
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Corn and soybean exports continue to anchor weekly inspection totals, with China maintaining a visible role, while wheat and sorghum remain more dependent on regional and seasonal demand shifts.
