Soybean oil reacts to the EPA’s D4 RVO release

The soybean oil market enjoyed the EPA’s RVO release and rallied SBO futures more than penny and running prices up to 33.5 cents per pound before backing off slightly to 33.33 for the July contract. The 2015 D4 RVO is proposed at 1.7 billion gallons, which is actually slightly less than what the market was expecting, but obviously more than enough to have shorts running to cover positions. SBO remains in its current trading range,…