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DTN reports that 17 new or expanding soybean crushing plants will add 564 million bushels of crush capacity by 2026. Renewable diesel production is soaring, and DTN's Todd Hultman argues it could raise the price floor for soybeans and corn.
Soybean oil is expected to overtake meal as the main driver of crushing.
Biofuel-driven crush expansion adds structural demand for soybeans and oil, supporting prices over the coming years. The growing crush also means more meal supply, which could cap meal prices for feed buyers.
dtnpf.comMatthew WildeDec 1, 2022After 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.
After 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 223 past bearish policy events, Soybean Meal moved a median -0.3% over 5 sessions (45% higher; middle half -2.2% to +1.2%), and -0.6% over 20.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), 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.
