Energy in farming and Soybeans

Their prices have moved together.

Energy in farming (energy) and Soybeans (commodity): 1 relationship.

How they are linked

1. Price link: energy cost

Cost and price · Strong · Both ways

Diesel powers planting, harvesting and transport of the crop, and higher fuel prices also lift demand for soy-based biodiesel. The diesel proxy correlates with soybeans at 0.29 for monthly moves and 0.67 for yearly moves, a mix of cost and the fuel link.

• 0.29 monthly change correlation
• 0.67 12-month change correlation
• 0.44 fitted elasticity

Built from the site data on production routes, energy flows, industry value chains, input-output tables and prices.