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The EIA reported that renewable diesel production surpassed biodiesel production in November 2022 for the first time. Renewable diesel output averaged 113,000 b/d that month, and the agency forecasts continued growth in renewable diesel with biodiesel declining.
Renewable diesel uses more vegetable oil feedstock than biodiesel per gallon in many cases, so continued growth supports soybean oil and other vegetable oil demand.
oilandenergyonline.comO&E Staff ReporterMar 9, 2023After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 149 past bullish report events, PALMOIL moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
