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The National Biodiesel Board announced a vision for the biodiesel and renewable diesel industry to reach 6 billion gallons annually by 2030, more than doubling current output. Member plants stayed open during COVID-19 after being designated essential, and production in 2020 was reported up year over year.
Planned biodiesel growth would draw substantially more soybean oil into fuel use, supporting soybean oil prices and crush margins. The soybean meal byproduct from that crush would also be more plentiful.
sdsoybean.orgSep 16, 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 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.
