Loading…
USDA's January 10 WASDE raised 2024-25 US soybean oil exports to 1,600 million lbs, up 46% from December, and cut biofuel use to 13,600 million lbs. Production was raised to 28,680 million lbs, imports to 550 million lbs, and carryover to 1,531 million lbs.
Higher exports drawn from a lower biofuel allocation signal demand shifting to foreign buyers, which tightens US oil balances and supports prices.
foodbusinessnews.netCrystal FutrellJan 15, 2025After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), 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.
