Could biodiesel countervailing duties lead to short squeeze in soybean oil prices?

Before the countervailing duties were put in place against Argentina, biodiesel imports were on pace to account for 25% or more of this year’s D4 mandate.  After the CVD’s, it is projected that Argentine imports will halt and imports will be fade to about 11% of the mandate. 

Given that soybean oil accounts for about 50% of all the feedstock used domestically to…