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The EIA's Annual Energy Outlook 2022 projects US renewable diesel supply rising to 130,000 barrels per day this year and overtaking biodiesel, driven by new capacity, RFS and state incentives, and a US$1.00 per gallon blender credit. The EIA assumes policy rather than market demand is driving biomass-based diesel adoption.
Projected renewable diesel growth increases competition for fats and oils feedstocks, supporting vegetable oil prices and reinforcing policy-driven demand for soybean oil.
ofimagazine.comApr 15, 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 149 past bullish report events, Palm Oil 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.
