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The USDA forecasts that soybean oil demand from the renewable fuel sector will stay flat at about 12 billion pounds a year after 2022. Analysts, including LMC's James Fry, see this as an outlier, since renewable diesel demand is projected to reach nearly 30 billion pounds by 2030.
If the USDA forecast is right, soybean oil demand growth would stall after 2022, which would weigh on longer-term prices. Analysts doubt it, so the outlook remains uncertain.
farmtario.comSean PrattJan 20, 2022After 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.
