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Analysis notes soyoil stocks rose above estimates, but the soybean oil market may have overreacted to biofuel mandate changes. The 2017 advanced biofuel volume of 4.28 billion gallons may be filled largely by excess biodiesel, requiring roughly 577 million wet gallons.
Biodiesel RIN mechanics imply strong demand for soyoil to meet the advanced category, supporting soyoil prices. Any shortfall in cellulosic or other qualifying supply shifts demand onto biodiesel.
gofbonline.comgofb-admFeb 18, 2017gofbonline.comgofb-admFeb 18, 2017Not enough comparable past events yet for a historical read.
After 318 past bullish policy events, Corn moved a median -0.1% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -0.2% over 20.
After 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.
