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Industry participants said renewable diesel expansion and new partnerships will drive robust demand for US soybeans. About 3 billion gallons of biodiesel are produced in the US currently, and renewable diesel and sustainable aviation fuel demand are growing.
Expected growth in biofuel-linked soybean oil use supports soybean and soybean oil demand, which tends to be bullish for soybean prices and meal supply tied to crush.
agrinews-pubs.comTom DoranJan 12, 2022After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), 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.
