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Soybean oil and other vegetable oil prices are reported at record highs, driven by biodiesel and renewable diesel demand. An Iowa Soybean Association official said US soybean supplies are at pipeline levels, which could create problems, and noted biodiesel expansion needs more investment.
Strong biofuel-driven veg oil demand keeps soyoil firm while tight US soybean stocks limit crush-driven meal supply, supporting prices across the soy complex.
wnax.comApr 19, 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.
After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
