Speaking of tracking above prior levels—have you noticed egg prices at the grocery store? That is,...
Soybean oil futures have jumped like Mike—we’re talking 1996 NBA Finals kind of elevation. The spark? On June 13, the EPA dropped their Renewable Volume Obligations for biomass-based diesel (which includes soy oil), and the numbers were stronger than market expectations. As shown in the chart above, soybean oil use in biodiesel is up 56%—yes, that’s a Lawrence Taylor-sized leap—from five years ago.
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