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The EIA's January Short-Term Energy Outlook projects U.S. biodiesel production to rise nearly 4% in 2021 and another 6% in 2022. Growth is attributed to RFS targets and the biodiesel production tax credit through 2022.
Expected biodiesel output growth supports incremental soybean oil demand, a bullish factor for soy oil and crush margins.
cleanfuelsconference.orgCindy ZimmermanJan 26, 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.
