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US Energy Information Administration data show ethanol capacity rose to 18.307 billion gallons per year in July, while renewable diesel capacity fell 299 million gallons from June. Biodiesel capacity held steady at 2.022 billion gallons.
Feedstock consumption for ethanol rose sharply from June and July 2023, and biobased diesel feedstock use also increased.
Higher ethanol feedstock consumption supports corn demand, while the drop in renewable diesel capacity points to softer demand for vegetable oils used in renewable diesel.
mnbiofuels.orgLiliana TovarOct 1, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
