Analysis: Favorable news regarding renewable fuels is expected to be announced on Friday.

The "Agriculture Celebration" event, to be held at the White House this Friday, is expected to include an announcement regarding biofuel policies, with the market expecting these announcements to be positive. Doug Bergman of RCM Alternatives said in a report, "The EPA is expected to announce the final renewable fuel blending requirements on Friday, and biofuel and farming groups have been invited to attend the announcement, with most thinking this will be good news for the biofuel industry and producers." Soybeans fell in pre-market trading, but the positive renewable fuel blending requirements may provide support in the future. The most actively traded contracts fell by 0.6%, while corn rose by 0.3% and wheat remained largely flat.