Stronger Biofuel Demand for Soybean Oil Boosts Crop Year 2022/23 Forecast


The USDA operates on a crop year basis while most biofuel market watchers tend to look at things through a calendar year outlook. The World Agriculture Supply and Demand Estimates (WASDE) were released today and showed an expected increase in biofuel demand for soybean oil for the 2022/23 crop year. The crop year for soybean oil operates from October 1, 2022, through September 30, 2023.

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