Chevron U.S.A. announced it will resume operations at its idled biodiesel plant in Ralston, Iowa, which has about 42 million gallons per year of capacity. The restart is supported by a commercial and operational agreement with farmer-owned Landus Cooperative, whose neighboring facility crushes over 28 million bushels of soybeans a year.
Restarting a sizable biodiesel plant adds soybean oil demand from the biofuel channel and supports soybean crush and meal supply in Iowa. The improved biodiesel margins signal firmer demand for soybean oil feedstock.
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.
After 356 past bullish policy events, Soybeans moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% over 20.
After 206 past neutral policy events, Soybean Meal moved a median -0.4% over 5 sessions (44% higher; middle half -2.3% to +1.8%), and -0.7% over 20.
After 27 past neutral policy events, ULSD / Diesel moved a median -1.4% over 5 sessions (41% higher; middle half -4.3% to +2.6%), and -4.6% 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.