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CoBank's Knowledge Exchange report says new U.S. renewable diesel investment will drive biofuel growth. Proposed crush and refinery projects could raise renewable diesel capacity sixfold to 6.5 billion gallons a year by 2030.
The expected expansion would require far more soybean crush, implying sustained demand for soybeans and soy oil and a need for much more acreage, which supports soybean prices.
agrinews-pubs.comNov 16, 2022After 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.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
