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The Ohio Soybean Council and National Biodiesel Board outlined biodiesel industry trends, noting the industry used 9 billion gallons, or 35%, of US soybean oil in 2020. The group expects at least 3.2 billion gallons of biodiesel sales in 2021, using 9.5 billion pounds of soybean oil.
Biodiesel is now the second-largest user of US soybean oil, so continued growth in demand supports soybean oil and soybean prices.
soyohio.orgOct 11, 2021Not enough comparable past events yet for a historical read.
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.
