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Renewable diesel capacity has grown from under 1 billion gallons in early 2021 to about 3.5 billion gallons in 2023. Another 3.5 billion gallons is in planning, though the American Soybean Association says not all of it will be built.
Expanding renewable diesel capacity increases demand for soybean oil and other feedstocks, supporting soy oil prices if planned plants are built.
iowafarmbureau.comTerri Queck-MatzieJul 17, 2023After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
