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Scott Irwin's farmdoc analysis argues earlier estimates overstated biodiesel plant losses. The original model put average Iowa FAME profit at -$0.27 per gallon over 2021-2023 versus +$0.07 over 2007-2020, and the revised view suggests producers were behaving rationally.
Revised profitability estimates indicate FAME biodiesel plants are less squeezed by renewable diesel competition than thought. That suggests steadier soybean oil demand from the biofuel sector.
farmdocdaily.illinois.eduHongxia JiaoNov 14, 2023After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
