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Reuters reports the USDA and Energy Department plan to change monthly reports to track renewable diesel growth. USDA will adjust how it reports biofuel soyoil use in WASDE as soon as spring.
EIA will add renewable diesel data to its Petroleum Supply Monthly report.
Better data on biofuel soyoil use may reveal larger demand than previously reported, which could support soyoil prices once published. The report changes themselves do not alter current supply.
brecorder.comReutersMar 8, 2021After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.
