Soybean oil futures rose by 7% due to high biofuel targets in the United States

Prices rose yesterday on CBoT soybean oil 7%, after the US Government published its biofuel framework for 2017.
This price increase had a positive impact also on the Sojabohnenfutures, recorded weaker wheat and corn prices were almost unchanged to the close of trade on pressure of the strong U.S. dollar. Today, Americans celebrate their Thanksgiving Day of "Thanksgiving" and the agricultural derivatives exchange CME remains afternoon tomorrow at 15:30 German time closed.
The U.S. Environmental Protection Agency EPA set the goal for the production of renewable fuels for 2017 19,28 billion gallons, 18.11 billion gallons in 2016. 15 billion gallons of it are bio-fuels from conventional production (mostly corn-based ethanol).
Leader of the price increase in the soy complex was the soy oil, because the EPA requires a higher amount of renewable energy to an impurity in fuels. The U.S. stocks of soybean oil will shrink as a result, market observers will appreciate. The USDA recently had an inventory estimate for end of 2016/17 with 1.658 billion lbs. released. Yesterday's decision should reduce this number to approximately 0.5 billion pounds.
While strongly attracted the prices of soy oil, the prices of soybean meal fell as soy oil and soy meal is produced from soybeans and even this amount must in addition marketed. The spread of both futures drifted apart as a result.

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