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US biodiesel production rose slightly in May, according to Energy Information Administration data. Soybean oil made up about 70% of the feedstock used.
The report shows continued reliance on soyoil for biofuel output.
A high soyoil share in biodiesel output keeps domestic soybean oil demand firm, which supports soyoil prices and the crush margin for soybean meal.
biodieselmagazine.comJul 31, 2020After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
