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The EIA reported US operable biofuel capacity of 24.882 billion gallons per year in September 2024, with ethanol at 18.307 billion and biodiesel at 1.995 billion. Renewable diesel capacity fell slightly to 4.58 billion gallons, and feedstock consumption dropped to 28.056 billion pounds, with lower corn and sorghum use.
Lower corn and sorghum consumption for ethanol signals reduced grain demand, a modestly bearish signal for feed grains, while steady soy and corn oil use supports oilseed feedstock prices.
agriinsite.comEthanol Producer MagazineDec 3, 2024After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
Not enough comparable past events yet for a historical read.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
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.
