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Over 1.17 billion pounds of soybean oil were removed from stocks for edible use in November, up 9.5%. Inedible use fell year on year as yellow grease and distillers corn oil became more available as biofuel feedstocks.
A record 832 million pounds went to biodiesel and renewable diesel in October.
Strong edible and biofuel offtake draws down US soybean oil stocks, supporting prices. Cheaper alternative feedstocks partly offset that demand.
mckeany-flavell.comBarbara BrodnitzJan 5, 2022After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
