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Biomass-based diesel makers used 4.95 billion pounds of soybean oil in the first half of 2022, up sharply from prior years. U.S. renewable diesel capacity rose to 1.95 billion gallons by June 2022, and June feedstock use was up 27% year over year.
Strong soybean oil absorption by biofuel producers tightens vegetable oil supplies and supports soybean oil prices, with spillover to soybean crush economics and meal supply.
mckeany-flavell.comBarbara BrodnitzSep 21, 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.
