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The American Soybean Association said proper Renewable Fuel Standard implementation, including higher biodiesel and advanced biofuel volumes, is critical to soy growers. It noted that about one third of U.S. soybean oil goes to biodiesel and that small refinery exemptions have undermined demand.
Biodiesel accounts for a third of U.S. soybean oil use, so RFS volume decisions directly affect soy oil demand and the soybean crush value.
brownfieldagnews.comadminJan 14, 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 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.
