EPA Finalizes 2026 Biofuel Rules and OKs Summer E15, Shifting Farm Markets

Overview

• Soybeans fell after Friday’s EPA ruling set biomass‑based diesel at 8.86 billion RINs for 2026 and lifted the full compliance obligation to about 9.07 billion with small‑refinery reallocation, where RINs are credits refiners use to prove biofuel blending.
• EPA Administrator Lee Zeldin’s Wednesday waiver allowing E15 gasoline sales from May 1 supports ethanol use and corn demand as EIA data showed output up to 1.116 million barrels per day and stocks rising to 27.17 million barrels.
• USDA’s latest export report showed strong corn sales at 1.22 million metric tons for the week of March 19, taking old‑crop commitments to 68.875 MMT, or 82% of USDA’s goal, which still trails the typical 86% pace for this point in the season.
• Wheat bookings reached 397,245 metric tons for that same week, near the top of trade estimates, and futures held gains into the week’s close on steady buying interest.
• Livestock markets diverged as live cattle futures rallied by roughly $2.43 to $3.98 on Friday, while USDA’s Hogs & Pigs report showed the U.S. herd up 0.44% year over year to 74.321 million head, setting a cautious tone before acreage and grain‑stock updates next week.