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.
At Datum FS, we help your business move from price taker to price maker with powerful data, forecasts, and tools for managing commodity risk like a pro. Fill out the form below to learn more.