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US refiners are looking to move ahead of Canadian producers in renewable diesel made from spent cooking oil, canola oil, or animal fats. Renewable diesel makes up just 0.5% of the roughly 430 billion gallon global diesel market, per Morgan Stanley.
Growth in renewable diesel would add feedstock demand for vegetable oils and fats, but the niche size limits near-term price impact.
reuters.comRod NickelOct 4, 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.
Not enough comparable past events yet for a historical read.
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.
