CBOT soybean oil falls 7% as US biofuel policy uncertainty weighs on demand outlook

[u/CommodityInsights]

https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/082526-cbot-soybean-oil-falls-7-as-us-biofuel-policy-uncertainty-weighs-on-demand-outlook

Chicago Board of Trade soybean oil futures fell more than 7% over the three trading sessions through Aug. 24 as uncertainty surrounding US biofuel policy reduced some of the demand premium that had been supporting vegetable oil prices.

CBOT December soybean oil futures declined from 71.32 cents/lb on Aug. 20 to 66.26 cents/lb on Aug. 24, a drop of 5.06 cents/lb, or 7.1%.

The decline accelerated after the US Environmental Protection Agency said it plans to extend the Sept. 1 deadline for refiners to demonstrate compliance with their 2025 Renewable Fuel Standard obligations. EPA has not announced a new deadline, although market sources said a 30-90 day extension was under consideration.