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Minnesota's B20 biodiesel mandate, a 20% biodiesel blend, takes effect May 1. Minnesota Soybean says the mandate adds a market for soybean oil.
Biodiesel is described as representing 63 cents of each soybean bushel's value.
A new state blending requirement adds domestic soybean oil demand, which supports soyoil prices relative to meal. The effect is regional and modest in size.
rrfn.comDon WickApr 25, 2018After 842 past bullish policy events, Soybean Oil 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.
