Soybean Futures Little Changed

January Soybeans are trading at 1034 , down 1/4 of a cent/bushel. January Soymeal is trading at 318.4, down 0.1 $/ton. January Soybean Oil is trading at 37.02, down 0.12 cents/lb. Soybean futures are trading rangebound. Soybean oil futures surged on Wednesday after the EPA increased renewable fuel volume requirements for 2017. Refiners must mix 19.28 billion gallons of renewable fuel for next year, 15 billion for traditional corn based ethanol and 4.28 billion for advanced biofuel standard. It quota is a 19 percent increase above the 2016 standard for biofuels.