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Steve Meyer of Partners for Production Agriculture told the World Pork Expo that growing renewable diesel capacity, which may triple in coming years, will produce more soybean meal as a co-product of soybean oil crushing. He expects soybean meal to be cheaper and basis to be weak over the next four to five years.
Expanding crush for renewable diesel should increase soybean meal supply and lower its price relative to soybean oil, which lowers feed costs for pork producers.
feedstrategy.comRoy GraberJun 7, 2023After 222 past bearish policy events, SBM moved a median -0.3% over 5 sessions (45% higher; middle half -2.1% to +1.2%), and -0.6% over 20.
After 841 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 36 past bullish policy events, HOGS moved a median +0.0% over 5 sessions (53% higher; middle half -2.8% to +1.2%), and +0.2% 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.
