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The USDA will change how it reports soybean oil use by biofuel producers starting with the May WASDE report. The updated forecast will combine biodiesel and renewable diesel use into one category, with further details due later that week.
Separating out biofuel soyoil demand gives buyers clearer visibility into a fast-growing use that is tightening vegetable oil supplies, which supports soyoil and soybean meal pricing dynamics.
brecorder.comReutersApr 8, 2021After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
