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Agricultural economist Scott Irwin says biodiesel production has had less effect on soybean oil prices than expected. He attributes this to surplus fats and oils generated by soybean crush driven by Chinese meal demand.
He concludes soybean meal remains the main driver of soybean value.
The analysis suggests soybean oil prices are more sensitive to meal demand and crush volumes than to biodiesel policy, which tempers the price effect of RFS changes on soy oil.
brownfieldagnews.comTom SteeverSep 15, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
