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ADM sets off ‘frenzy’ in US soybean market ahead of new biofuel blend rule

U.S. officials are expected to propose biofuel blending requirements below industry recommendations

Archer-Daniels-Midland, a major U.S. soybean crusher and biofuel producer, slashed its bids to buy the oilseed this week ahead of an expected Trump administration announcement on biofuel blending requirements, a primary driver of demand for soybean oil - and a prospective source of demand for Canadian canola.