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US domestic soybean oil demand may rise slightly in 2020 due to the latest federal diesel blending policies, according to market sources. USDA data showed January US soybean crush up 3% year on year at 5.66 million mt, with crude soybean oil output up 2%.
Stronger biodiesel-linked demand for soybean oil supports crush margins and soybean oil prices, which in turn supports meal output as a byproduct.
feedandgrain.comOct 2, 2020After 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 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% 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.
