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EIA's February Short-Term Energy Outlook added separate forecasts for production, consumption and net imports of biodiesel and renewable diesel. The agency noted several former refineries are converting to renewable diesel, with US capacity expected to nearly triple to about 77,000 bpd plus additions by the end of 2023.
Rising renewable diesel capacity increases demand for vegetable oil and fats feedstocks, which supports soybean oil prices, while the new reporting clarifies the outlook without a direct price shock.
hydrocarbonengineering.comBella WeetchFeb 17, 2022After 296 past bullish report events, SBO 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.
