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.
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07.26.2024
US Court of Appeals sends SRE decision back to EPA; soyoil prices tumble on potentially lower biofuel demand
On Friday July 26, the US Court of Appeals vacated at least some of the blanket small refinery exemption (SRE) denials made by the Environmental Protection Agency (EPA) in...
07.26.2024
Animal fats and oils trade freezes following soybean oil market drop on SRE report
Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32...
07.26.2024
Porcine bloodmeal, Missouri River, moves higher week on week; June commercial cattle, hog slaughter
US animal protein prices were highly mixed in the week to Friday July 26, with limited trade on both Thursday July 25 and on Friday. Porcine bloodmeal was the...