Loading…
The April WASDE kept its 2023-24 forecast for soybean oil use in biofuel production unchanged. The report note is brief and reports no change to the biofuel use estimate.
An unchanged biofuel use forecast leaves the soybean oil demand outlook intact, so the report alone has little price impact.
biodieselmagazine.comApr 11, 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.
