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The American Bakers Association says soybean oil demand has exceeded supply, with US soyoil prices roughly tripling over the past year. It argues that biodiesel demand under the Renewable Fuel Standard is diverting edible oil away from food use.
The group is calling for a short-term pause on scheduled biodiesel mandate increases.
Biofuel mandates are a key driver pulling soybean oil away from food and feed channels, supporting prices. Any mandate pause would reduce that demand and could ease soyoil prices.
snackandbakery.comBy: Jenni Spinner, Liz Parker KuhnAug 27, 2021After 842 past bullish policy events, Soybean Oil moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), 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.
