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An analysis piece argues that biofuel production is expanding and will offset slowing soybean demand from Chinese pork production. It says the soybean market, which has been declining since its 2022 peak, may not stay oversupplied for long.
Growing biofuel crush demand for soybean oil could absorb supply and support soybean prices if Chinese feed demand keeps falling. The effect is a forecast rather than a current supply shock.
czapp.comSara WardenJun 30, 2024After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 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.
