Loading…
The USDA lowered its 2021-22 forecast for soybean oil used in biofuels. The report was released in mid-September as part of its routine supply and demand updates.
A lower biofuel use forecast implies more soybean oil available for other uses, which is bearish for soybean oil prices.
biodieselmagazine.comSep 13, 2021After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
