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USDA kept its forecast for soybean oil used in biofuel production unchanged in its April report. The figure is a key input into the soybean oil balance sheet.
An unchanged biofuel use estimate leaves soyoil demand expectations steady, so it has little immediate price effect for feed buyers.
biodieselmagazine.comApr 11, 2023After 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.
