◂ Event Timeline

Jul 12, 2023REPORTUS

USDA maintains forecast for soybean oil use in biofuel production

USDA kept its forecast for soybean oil use in biofuel production unchanged in its latest report. The article gives no further details on the revision.

WHY IT MATTERS

An unchanged biofuel use forecast signals no new demand shift for soybean oil, so the report has limited price impact.

AFFECTSSoybean Oil◆

SOURCE
biomassmagazine.comJul 12, 2023

Price reaction & history

Soybean Oil◆neutralSO FAR1d +0.1%5d -3.6%20d -2.6%

After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.

Feb 9, 2023USDA maintains forecast for soybean oil use in biofuel production | Biomass Magazine+1.5%
Oct 12, 2022USDA maintains forecast for soybean oil use in biofuel production | Biodiesel Magazine+0.8%
Apr 11, 2023USDA maintains forecast for soybean oil use in biofuel production | Biodiesel Magazine+0.5%
Dec 8, 2023WASDE maintains forecast for 2023-’24 soybean oil use in biofuel | Biomass Magazine-2.2%
Jun 12, 2024June WASDE maintains 2024-’25 forecast for soybean oil use in biofuel production | Biodiesel Magazine+1.0%

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.

Soybean Oil SBO · GP ▸

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