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CHS, the largest US farmer-owned cooperative, says demand for soybean oil is bullish due to West Coast demand for renewable diesel driven by California's low carbon fuel standard. The company is expanding its Mankato, Minnesota crush refinery by $60 million.
Biofuel-driven demand for crushed soybean oil supports crush margins and oil prices, which in turn increases meal output that feed buyers will see in supply.
startribune.comChristopher VondracekNov 10, 2022After 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 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.
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.
