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The USDA November WASDE report kept its forecast for soybean oil use in biofuel production for 2024-25 unchanged. The article contains no further detail in the provided text.
An unchanged biofuel soyoil use forecast signals steady demand, so the report has limited price impact on its own.
biodieselmagazine.comNov 8, 2024After 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.
