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The American Bakers Association says vegetable and soybean oil prices have surged, with some bakers paying 54 cents per pound versus 10 cents a year earlier. It has urged the EPA to lower RFS biodiesel blending requirements, while soybean groups say supplies are ample.
Tight soybean oil supplies and pressure from food users may lead to policy changes that reduce biofuel demand, which is a downside risk for soybean oil prices. Refining capacity limits mean supply tightness could persist for months.
farmprogress.comJacqui FatkaNov 4, 2021After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% 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.
