# US to turn net exporter of soybean oil on production rise, falling biofuel usage: FAS

> USDA's Foreign Agricultural Service expects the U.S. to export more soybean oil than it imports in FY 2024-25, reversing a two-year net import position. Soybean oil use in renewable diesel has declined as tallow and used cooking oil replace it, and U.S. soybean oil production is forecast at a record 12.93 million mt.

- Date: 2024-06-12 · published 2024-06-12T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/15211-us-to-turn-net-exporter-of-soybean-oil-on-production-rise-falling-biofuel-usage
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A record crop and falling biofuel use shift the U.S. toward net exports, which adds supply to world markets and weighs on soybean oil prices.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-02-05 | [Soybean Oil’s Biofuel Share Faces Growing Pressure](https://feedsoft.ai/events/15146-soybean-oil-s-biofuel-share-faces-growing-pressure.md) | -2.9% | -7.2% |
| SOY | 2025-07-11 | [China’s feed production rises, soybean meal consumption falls](https://feedsoft.ai/events/23726-china-s-feed-production-rises-soybean-meal-consumption-falls.md) | +0.9% | -4.0% |
| SOY | 2021-12-03 | [US Soybean Export Sales Running Out of Time](https://feedsoft.ai/events/43683-us-soybean-export-sales-running-out-of-time.md) | +1.6% | +6.8% |
| SOY | 2023-02-03 | [Soybean prices in Ukraine are falling against the backdrop of reduced export demand](https://feedsoft.ai/events/12881-soybean-prices-in-ukraine-are-falling-against-the-backdrop-of-reduced-export.md) | -1.0% | -0.2% |
| SOY | 2018-05-02 | [Pulling the Trigger on Soybean Prices \| Red River Farm Network](https://feedsoft.ai/events/4610-pulling-the-trigger-on-soybean-prices-red-river-farm-network.md) | -3.0% | -1.9% |
| SBO | 2025-02-05 | [Soybean Oil’s Biofuel Share Faces Growing Pressure](https://feedsoft.ai/events/15146-soybean-oil-s-biofuel-share-faces-growing-pressure.md) | +1.5% | -3.0% |
| SBO | 2024-04-04 | [Used Cooking Oil Imports for Biofuels Exceed Expectations - American Soybean Association](https://feedsoft.ai/events/15225-used-cooking-oil-imports-for-biofuels-exceed-expectations-american-soybean.md) | -0.4% | -9.1% |
| SBO | 2025-11-25 | [China exported a record amount of soybean oil in October](https://feedsoft.ai/events/22039-china-exported-a-record-amount-of-soybean-oil-in-october.md) | +4.6% | -2.1% |

## Sources

- feedandgrain.com: https://www.feedandgrain.com/grain-supply-chain/grain-trade-export/news/15677518/usda-forecasts-us-as-net-soybean-oil-exporter-for-202425
- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/agriculture/061224-us-to-turn-net-exporter-of-soybean-oil-on-production-rise-falling-biofuel-usage-fas
- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/061224-us-to-turn-net-exporter-of-soybean-oil-on-production-rise-falling-biofuel-usage-fas

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