Loading…
Analysts at the Canadian Animal Nutrition Conference said government biofuel mandates could expand global biofuel production from about 20 million tonnes to roughly 110 million tonnes. Vegetable oils and meat are the main factors underpinning the feed market, and the expansion is expected to shift the price structure.
Diversion of vegetable oil into biofuels should lift soybean oil prices while leaving more meal in the market, which pushes soybean and canola meal prices lower.
manitobacooperator.caDon NormanJun 5, 2024After 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.
After 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
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.
