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S&P Global examines how US and Canadian net-zero climate goals are driving biofuel growth. Soybean oil supplies 48% of renewable fuel feedstock, and soyoil futures peaked at 73 cents per pound in June 2021.
Policy-driven biofuel demand anchors soybean oil and other vegetable oil prices at high levels, linking feed-ingredient costs to energy and climate policy.
spglobal.comNov 1, 2021After 842 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 356 past bullish policy events, SOY moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
Not enough comparable past events yet for a historical read.
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.
