# Domestic soybean demand outlook | CHS Inc.

> CHS says U.S. soybean oil and meal demand should stay strong into the 2024 harvest. USDA estimates 2.3 billion bushels crushed in 2023-24, with crush expected to rise 6% in 2024-25 as the industry expands to meet renewable diesel demand.

- Date: 2024-08-13 · published 2024-08-13T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/15190-domestic-soybean-demand-outlook-chs-inc
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expanding crush capacity supports soybean and soybean meal demand, and renewable diesel-driven soy oil use underpins crush margins and soybean prices.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-05-14 | [New Crop Soybeans Top $12 as USDA Raises Demand Outlook - American Soybean Association](https://feedsoft.ai/events/19297-new-crop-soybeans-top-12-as-usda-raises-demand-outlook-american-soybean.md) | -1.3% | -8.2% |
| SOY | 2017-10-16 | [Soybean demand sparks market rally](https://feedsoft.ai/events/68490-soybean-demand-sparks-market-rally.md) | -2.1% | -2.3% |
| SOY | 2020-05-19 | [Soybean Demand Remains Uncertain - ProAg](https://feedsoft.ai/events/53221-soybean-demand-remains-uncertain-proag.md) | +0.2% | +2.6% |
| SOY | 2020-09-09 | [Feed demand increases China’s soybean imports \| 2020-09-09  \| World Grain](https://feedsoft.ai/events/51186-feed-demand-increases-china-s-soybean-imports-2020-09-09-world-grain.md) | +1.9% | +7.3% |
| SOY | 2026-04-13 | [Crush Demand Drives Soy Complex Higher as USDA Raises Price Outlook - American Soybean Association](https://feedsoft.ai/events/15037-crush-demand-drives-soy-complex-higher-as-usda-raises-price-outlook-american.md) | -0.7% | +1.6% |
| SBM | 2026-05-14 | [New Crop Soybeans Top $12 as USDA Raises Demand Outlook - American Soybean Association](https://feedsoft.ai/events/19297-new-crop-soybeans-top-12-as-usda-raises-demand-outlook-american-soybean.md) | -2.8% | -12.8% |
| SBM | 2017-10-16 | [Soybean demand sparks market rally](https://feedsoft.ai/events/68490-soybean-demand-sparks-market-rally.md) | -2.3% | -3.1% |
| SBM | 2020-05-19 | [Soybean Demand Remains Uncertain - ProAg](https://feedsoft.ai/events/53221-soybean-demand-remains-uncertain-proag.md) | -0.4% | +1.0% |

## Sources

- chsinc.com: https://www.chsinc.com/news-and-stories/2024/08/13/domestic-soybean-demand-outlook

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.