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US biodiesel output reached 147 million gallons in May, up 2% from April but down 5% from May 2019. Soybean oil use in biodiesel hit a record 778 million pounds, rising 16% from April and reaching 70% of feedstock use.
Record soyoil use for biodiesel tightens domestic soyoil supply and supports soybean oil prices, as other feedstocks such as yellow grease and distillers corn oil were constrained.
mckeany-flavell.comBarbara BrodnitzAug 4, 2020After 842 past bullish policy events, SBO 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, SBM 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.
