STEO Forecast and 2023 RVOs

STEO Forecast and 2023 RVOs

The RFS renewable volume obligations (RVOs) issued by the EPA provide percentage standards applied to the initial mandated forecast at that time of release. The percentage standards translate into volumes based on the estimated consumption forecast. The actual RVOs become known over time but use the same percentage standards applied to the original mandate, which created the initial volume expectations.

Reviewing the February STEO and applying the appropriate percentage standards, 2023 gasoline consumption has fallen below the original volume estimate and has lowered the implied ethanol mandate from 15 billion gallons to 14.94 billion gallons. This is above last month’s projection of 14.90 billion gallons.

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

07.19.2024

EU imposes provisional anti-dumping duties on Chinese biodiesel

EU imposes provisional anti-dumping duties on Chinese biodiesel

The European Biodiesel Board (EBB) announced on Friday July 19 that the EU has decided to impose “provisional anti-dumping duties in its trade case against Chinese biodiesel entering the...

07.19.2024

Lard market jumps ahead of weekend

Lard market jumps ahead of weekend

Lard traded higher on Friday July 19 on a Chicago basis, up to 55 cents per lb, and choice white grease traded on a Chicago basis as well, steady...

07.19.2024

IA/MO/NE porcine bloodmeal prices up; other animal protein products down

IA/MO/NE porcine bloodmeal prices up; other animal protein products down

US animal protein prices were mixed to lower in the week to Friday July 19.  Market sources continued to not price pressure from lower soybean meal values and diminished...

Latest Tweets