Soybean Rallies to 3-Week High on Biofuel Mandate

Soybean futures climbed above $10.65 per bushel on Friday, hitting a three-week high after the Trump administration proposed biofuel blending requirements that surpassed market expectations.

The rally followed the Environmental Protection Agency’s plan to increase the volume of biofuels that refiners must blend into the nation’s fuel supply over the next two years.

Soyoil, a key biodiesel feedstock, surged on the news.

Analysts said the move would significantly boost domestic soybean crush demand in 2026 and 2027.

The proposal was seen as a major victory for the biofuels industry, which had been actively lobbying for such changes.

Adding to the bullish sentiment, soybean prices were further supported by a sharp rise in crude oil prices after Israel launched airstrikes on Iran early Friday.