Loading…
Competition for soybean oil is intensifying in the US as biofuel producers, food makers and the oleochemical sector all seek supply. NOPA reported member soyoil stocks at their lowest level since 2014, and USDA expects biofuel use of soyoil to rise about 20% in the coming season.
Rising biofuel demand for soyoil with tightening stocks points to higher soyoil prices and higher feedstock costs for food and industrial users, which supports the soybean complex.
agroconf.orgJul 9, 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.
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.
