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The July WASDE maintained its forecast for soybean oil use in biofuel production for 2024-25. The article text provided is limited to the headline and byline.
A steady USDA biofuel-use forecast signals no change in expected soybean oil demand from biofuels, leaving the oil balance sheet unchanged. Market reaction is likely limited.
biodieselmagazine.comJul 12, 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.
