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Renewable Energy Group and Mid-Iowa Cooperative plan a new Shell Rock, Iowa soybean processing plant producing almost half a billion pounds of soy oil annually for renewable diesel feedstock. The project adds new crush capacity aimed at renewable diesel demand.
New crushing capacity increases soybean and meal output over time, with more oil directed to renewable diesel, which shifts the soy crush balance toward oil and supports soybean oil prices relative to meal.
iowafarmbureau.comCorey MunsonJul 12, 2021After 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 384 past bearish trade events, Soybean Meal moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.
