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The EIA's AEO2022 Reference case projects U.S. renewable diesel supply will exceed biodiesel supply in the near term. Renewable diesel supply is projected to reach 130,000 b/d in 2022 and 145,000 b/d in 2050.
Growth is driven by new refinery capacity and existing incentives.
A shift toward renewable diesel increases demand for fats and oils feedstocks, which supports soybean oil and other vegetable oil prices.
eia.govMar 24, 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.
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.
