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Soybean growers heard at the Kansas Soybean Expo that biodiesel output grew from 100 million gallons in 2004 to 2.5 billion in 2017. Imports from Argentina, which were subsidized through export taxes, pressured domestic producers, and US trade cases against Argentina are expected to resolve within months.
A final trade ruling against subsidized Argentine biodiesel would support domestic soybean oil demand, while the RFS and tax credit remain key drivers.
hpj.comHPJ StaffJan 23, 2018After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% 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.
