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U.S. soybean crushers plan to expand capacity by 30% over three years, and Canadian canola crushing is set to rise 60%. The growth is driven by biofuel demand that is pushing companies to retool oilseed processing.
Biofuel-driven crush expansion increases demand for soybeans and canola and shifts supply toward oil, which tends to support soybean oil prices and the value of the meal coproduct.
reuters.comKarl PlumeJun 7, 2023After 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 734 past policy events, Soybean Meal moved a median -0.2% over 5 sessions (46% higher; middle half -1.9% to +1.6%), and -0.4% over 20.
Not enough comparable past events yet for a historical read.
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.
