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AgWeb columnist Jerry Gulke argues that government biofuel policies, including ethanol and biodiesel mandates, drove soybean oil demand expectations that have since collapsed. Soy oil has fallen from 91 cents per pound in 2022 to a four-year low near 39 cents.
He also cites a larger Brazilian crop and a strong US growing season as bearish factors.
Weaker soyoil prices reduce crush margins and the value of soybeans relative to meal, which pressures soybean complex prices and feeds lower soybean meal co-product economics for buyers.
agweb.comSep 26, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
