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The EIA reported that U.S. biomass-based diesel imports rose 26% in 2019 to more than 27,000 b/d, reversing three years of decline. The growth came mainly from renewable diesel shipped from Singapore.
The article notes that federal and state policies largely drive demand for these fuels.
Higher imports of feedstock-based diesel point to modest additional demand for fats and oils used in biofuels. The effect on soybean oil prices is small at this volume.
eia.govJun 2, 2020After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), 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.
