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A sponsored article says US soybean oil demand is rising, with biofuel use projected to reach 42% of this marketing year's supply compared with 37% last year. Exports are forecast to fall to 5% from 9%.
Growing biofuel demand for soyoil supports oil prices and shifts the crush balance toward oil, although the article is promotional rather than a new market event.
agweb.comJul 28, 2022After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% 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.
