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An analyst at Aimpoint Research argues that government support for electric vehicles will not significantly reduce future renewable diesel demand. The argument is that EV adoption is concentrated in passenger cars, while diesel remains essential for freight.
Renewable diesel US capacity is projected to roughly double to 5.4 billion gallons by end-2024.
Sustained renewable diesel growth supports demand for soybean and canola oil feedstocks and the crush capacity built to supply them. That outlook is supportive for soybean oil.
realagriculture.comRealAgriculture News TeamAug 11, 2023After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
