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The National Biodiesel Board's RISE 2021 virtual conference, held January 18-21, promoted the industry's goal of 6 billion gallons by 2030. Soybean oil supplied about half the biodiesel feedstock base, with roughly 8 billion pounds used in 2019.
Leaders said producers beat expectations in 2020 despite the pandemic.
Industry expectations of rising biodiesel volumes point to steady demand for soybean oil, although this is a long-range target rather than a near-term price driver.
kansassoybeans.orgJosey MestaghFeb 20, 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 554 past neutral policy events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.4% to +1.6%), and +0.6% 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.
