Tonight we’re diving into how biofuels have fundamentally reshaped global vegetable oil markets over the past 15 years, Argentina’s big, beautiful corn crop — and its first shipment to China in over a decade — shifting U.S. planting priorities, and a closer look at deteriorating HRW conditions.

Don’t miss tonight’s HOT Nugget — Final Thoughts.

If you’ve followed me for a while, you might remember CGB’s Straight Talk with Susan… Final Thoughts was always a thing.

Might be time to bring it back on Wednesdays.

Soybean oil moved into new highs again already this week — trading above 72¢ for the first time since 2022 — catching a tailwind from biofuel policy on both sides of the Pacific

2026 might be the year of the horse, but it’s shaping up to be the year of the biofuel mandate.

Rising biofuel mandates here and abroad are creating new demand and lifting the floor under global veg oil prices — a trend that does not look set to reverse anytime soon.

Aside from the United States’ big, beautiful RVO, finalized just a few short weeks ago, Indonesia has now made its move official — with its B50 mandate set to take effect July 1, 2026.

As Indonesia raises its biodiesel mandate, more palm oil is pulled into domestic use. Every tonne burned at home is one less tonne available to the global market.

This isn’t a new dynamic, however.

Since 2015, Indonesia’s industrial use of palm oil — driven largely by biodiesel — has surged 350%, while exports have declined 10%, turning the world’s top exporter into its own largest customer — a shift that is entirely policy driven.