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EIA data showed US operable biofuel capacity dipped slightly in May, with ethanol and biodiesel both down month over month. Total feedstock consumption rose versus April and May 2022, while renewable diesel capacity held steady.
Higher feedstock consumption signals stronger processing demand for oilseeds and fats, which supports soybean oil and meal prices.
world-energy.orgAug 2, 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.
