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The October 2024 WASDE report was released, with analysts noting it maintained the outlook for 2024-25 soybean oil use in biofuel production. The article gives no further numbers in the excerpt provided.
An unchanged biofuel soyoil use forecast signals no new demand shock from USDA, leaving soyoil price direction to other drivers.
biodieselmagazine.comOct 11, 2024After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.
