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Gro Intelligence reports that U.S. biodiesel exports more than tripled in the first two months of 2021. The surge adds to domestic biodiesel demand and strains already tight soybean supplies.
Rising soybean oil export demand for biofuel tightens soybean supplies, supporting soybean and soybean oil prices.
gro-intelligence.comApr 14, 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.
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.
