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A USDA Foreign Agricultural Service report says U.S. renewable diesel capacity growth has reshaped domestic crushing and global feedstock trade. The United States has rapidly expanded imports of animal fats and vegetable oils, and U.S. soybean oil premiums rose above global prices, cutting exports.
The U.S. became a net soybean oil importer as a result.
Stronger renewable diesel demand pulls soybean oil and imported feedstocks into the U.S., supporting vegetable oil prices and keeping crush margins strong, which lifts meal output.
fas.usda.govJun 11, 2024After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
