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DTN analyst Todd Hultman notes that soybean oil and ULSD diesel futures, both about half off their 2022 highs in June 2023, have risen since then. He says diesel in particular may climb further as renewable diesel demand for soyoil continues.
Higher diesel prices strengthen the economics of renewable diesel, which supports soybean oil demand and can lift crush margins. That mechanism favors higher soyoil prices.
dtnpf.comTodd HultmanJul 28, 2023Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
