As Matt Herrington noted on Friday, the Environmental Protection Agency released the final required volume obligations (RVO) rule which set the biofuels blending levels for 2021 (retroactively) and 2022 (six months late, and five months into the compliance year). Following is the breakdown compared to what was proposed by EPA in December 2021:
2021 volume (issued retroactively) is larger;
2022 volume is lower, with the reduction coming from the cellulosic category;
However, the 2022 effective volume would be larger as EPA added a 250 million gallon “supplemental obligation” for 2022. The supplemental volume is intended to address the remand of the 2014-2016 final RVOs by the DC Circuit Court of Appeal...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
