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US biodiesel production fell by 2 million gallons to 132 million gallons in February, according to EIA data released April 30. Midwest plants supplied 75% of output, and soybean oil consumption rose by 54 million pounds.
Biodiesel output and feedstock use drive soybean oil demand and crush margins, and the data shows that feedstock demand is still firm despite the drop in production.
spglobal.comApr 30, 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.
