Jeff Hoogendoorn, Professional Ag Marketing, says the sell off in bean oil was tied to unconfirmed rumors the draft proposal on the Renewable Volume Obligations (RVO) for bio-mass based diesel were sent to the Office of Management and Budget (OMB) with lower than expected volumes.

The massive bill faced two major hurdles, passing out of both the House Agriculture and House Ways and Means Committees. While the legislation is filled with positive tax provisions for farmers, potential cuts to SNAP are creating controversy.

Misery loves company: commiserate with two frustrated row crop farmers who are fed up with equipment and technology outages, and learn about a simple fix that just might keep your planter up and running this spring.

Soybeans are down with soybean oil which touched limit down overnight on unconfirmed rumors EPA would setting RVO levels for biomass based diesel below anticipated levels.

“Whatever your case might be, it’s about how to help absorb potential unforeseen shocks and potential short term losses if they occur,” says John Steeves with Rabobank.