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Oilseed processors say imports of used cooking oil and tallow have surged, with animal fat and vegetable oil imports more than doubling from 2020 to 2023. UCO imports from China more than tripled in 2023.
NOPA warns that imported feedstocks displace domestic soybean crush capacity.
Rising imported feedstocks reduce demand for domestic soybean oil and crush, pressuring soybean oil and meal prices. Tax credits favoring low-carbon imports shift biofuel feedstock demand away from U.S. soybeans.
agri-pulse.comRebekah AlveyJul 10, 2024After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.
