Loading…
CoBank's report, titled Renewable Diesel Projected to Turbo Charge Biofuel Growth, projects renewable diesel capacity rising to 6.5 billion gallons by 2030. It estimates U.S. soybean acreage would need to rise 17.9 million acres and the country would need to stop exporting whole soybeans.
A large shift of soybeans into domestic crush for renewable diesel would reduce export supply and raise demand for soybean oil, supporting soybean and soybean oil prices.
biobased-diesel.comRon KotrbaSep 29, 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.
