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U.S. renewable diesel demand is met by limited domestic output of about 26,000 bpd and rising imports from Singapore. Refiners plan to add roughly 228,000 bpd of capacity over five years, driven mainly by California's Low Carbon Fuel Standard.
Rising renewable diesel capacity increases demand for fats and vegetable oils as feedstock, which tends to support soybean oil prices and reduce the meal-to-oil value balance over time.
adi-analytics.comUday TuragaAug 18, 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.
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.
