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Spiking US imports of used cooking oil from China are displacing domestic soybean oil in biofuel production, prompting some agriculture groups to call for higher tariffs. Fuel makers warn that tariffs would restrict low-carbon feedstock supplies.
Import competition from cheap Chinese feedstock weakens US soyoil demand, and any tariff action would shift that balance toward domestic soybean oil.
energynow.comBloombergMay 17, 2024After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
