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EIA data show US biodiesel production fell to 146 million gallons in October, about one million gallons below September. Soybean oil remained the largest feedstock at 577 million pounds, down from 604 million in September.
Softer biodiesel output reduces soybean oil demand from the biofuel sector, a modest bearish factor for soyoil and the soybean crush margin.
biofuelsdigest.comMeghan SappJan 1, 2018After 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.
