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The U.S. biodiesel industry produced more than 1.8 billion gallons in 2020, up from 1.725 billion in 2019 but below 2018. Feedstock use totaled 13.63 billion pounds, with soybean oil at about 8.4 billion pounds, or 61.5% of the share, more than a billion pounds higher than in 2019.
Higher soybean oil use for biodiesel supports domestic soyoil demand and the soy crush value, and shows that biofuel demand held up through the pandemic.
biobased-diesel.comRon KotrbaFeb 27, 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.
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.
