- The Biden administration is considering lowering the 2022 ethanol blending mandate below the proposed 15B gallons, Reuters reports.
- The Environmental Protection Agency last month issued a biofuel blending mandate proposal that cut ethanol requirements for 2020-21 while restoring them to 15B gallons for 2022, but Reuters says administration officials now are weighing a rollback of the 15B gallon mandate when the final rule is issued later this year.
- Potentially relevant tickers include ADM, GPRE, REGI, CLNE, DAR, GEVO, PBF, VLO, MPC, PSX, HFC
- ETF: CRAK
- Earlier this week, the U.S. Supreme Court rejected an appeal by a trade group, refusing to reinstate EPA rule that would have permitted year-round sales of fuel containing as much as 15% ethanol.
- Warning on cyclical headwinds for refined products in 2022 and crushing in 2023, J.P. Morgan today assumed coverage of Archer Daniels Midland with a Neutral rating.