Loading…
Soy oil prices declined after the U.S. government proposed lower biodiesel mandates for 2018 and 2019. Traders had expected continued increases in mandate volumes, so the proposal surprised the market.
Lower biodiesel blending requirements reduce domestic demand for soybean oil, pressuring soyoil prices and possibly canola oil; the soybean meal impact is expected to be limited.
biofuelsdigest.comadminOct 8, 2017After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 369 past bearish policy events, Soybeans moved a median -0.2% over 5 sessions (46% higher; middle half -1.7% to +1.8%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
