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USDA's June WASDE kept its 2024-25 forecast for soybean oil used in biofuel production unchanged. The report left the biofuel outlook for soybean oil steady.
No new change to feedstock demand was announced.
An unchanged biofuel use forecast keeps soybean oil demand assumptions steady, so the report gives the market little new direction.
biodieselmagazine.comJun 12, 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.
