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US biodiesel production rose to 144 million gallons in October from 142 million in September, according to the US Energy Information Administration. Soybean oil remained the largest feedstock at 558 million pounds, about 51% of the total, down from 599 million in September.
Lower soybean oil use for biodiesel in October reduces domestic soy oil demand, which is bearish for soy oil prices and shifts crush economics toward meal.
bworldonline.comCEDTyCleaJan 5, 2020After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
