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A CoBank report says recent investment in U.S. renewable diesel capacity will drive strong growth in the biofuels sector. It projects capacity rising sixfold to 6.5 billion gallons a year by 2030 as soybean crush and refinery projects come online.
Growing renewable diesel output would sharply increase demand for soybean oil and soybeans, tightening vegetable oil supplies and supporting prices.
feedandgrain.comFeed, Grain StaffOct 4, 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.
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.
