Loading…
US soybean oil consumption for renewable diesel production in June rose to an eight-month high. Yellow grease demand for the same purpose also climbed to a six-month high.
Stronger biofuel feedstock use tightens domestic soybean oil supplies and supports soybean oil prices. Rising yellow grease demand also indicates competition for alternative fats used in renewable diesel.
After 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.