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ExxonMobil agreed to buy 2.5 million barrels per year of renewable diesel for five years from Global Clean Energy's converted Bakersfield, California refinery, with deliveries starting in 2022. The fuel will be produced from camelina and other non-petroleum feedstocks.
The deal is a single offtake contract with a limited near-term effect on feedstock demand for feed commodities, though it supports the broader shift toward renewable diesel.
businesswire.comExxonMobil Media RelationsAug 11, 2020After 1,419 past policy events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 1,905 past policy events, Soybeans moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.8%), and +0.2% 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.
