# WASDE maintains forecast for 2023-’24 soybean oil use in biofuel | Biomass Magazine

> The USDA's December WASDE report kept its forecast for 2023-24 soybean oil use in biofuel unchanged. The article text available is brief and gives no further details.

- Date: 2023-12-08 · published 2023-12-08T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/15255-wasde-maintains-forecast-for-2023-24-soybean-oil-use-in-biofuel-biomass-magazine
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

An unchanged biofuel use forecast means no new demand signal for soybean oil from the report. Prices are unlikely to move on this alone.

## Read by commodity

- SBO: neutral
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-08-11 | [USDA maintains forecast for 2023-'24 soybean oil use in biofuel \| Biodiesel Magazine](https://feedsoft.ai/events/15284-usda-maintains-forecast-for-2023-24-soybean-oil-use-in-biofuel-biodiesel.md) | +0.7% | -6.4% |
| SBO | 2024-04-11 | [April WASDE maintains 2023-’24 forecast for soybean oil use in biofuel production  \| Biodiesel Magazine](https://feedsoft.ai/events/30819-april-wasde-maintains-2023-24-forecast-for-soybean-oil-use-in-biofuel.md) | -5.2% | -7.3% |
| SBO | 2023-02-09 | [USDA maintains forecast for soybean oil use in biofuel production \| Biomass Magazine](https://feedsoft.ai/events/37423-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-biomass.md) | +1.5% | -0.1% |
| SBO | 2023-07-12 | [USDA maintains forecast for soybean oil use in biofuel production \| Biomass Magazine](https://feedsoft.ai/events/15296-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-biomass.md) | -3.6% | -2.6% |
| SBO | 2022-02-09 | [USDA maintains forecast for 2021-'22 soybean oil use in biofuel  \| Biodiesel Magazine](https://feedsoft.ai/events/15417-usda-maintains-forecast-for-2021-22-soybean-oil-use-in-biofuel-biodiesel.md) | -0.1% | +13.2% |
| SOY | 2022-10-12 | [USDA maintains forecast for soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15365-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-biodiesel.md) | -0.3% | +4.9% |
| SOY | 2025-02-28 | [Soybean oil use for biofuels Is expected to increase: USDA - BioEnergy Times](https://feedsoft.ai/events/26125-soybean-oil-use-for-biofuels-is-expected-to-increase-usda-bioenergy-times.md) | -0.9% | -0.6% |
| SOY | 2026-01-13 | [USDA lifts 2025-26 soybean crush as tallow displaces soybean oil for biofuel \| Feed & Grain](https://feedsoft.ai/events/21144-usda-lifts-2025-26-soybean-crush-as-tallow-displaces-soybean-oil-for-biofuel.md) | +1.9% | +8.7% |

## Sources

- biomassmagazine.com: https://biomassmagazine.com/articles/wasde-maintains-forecast-for-2023-24-soybean-oil-use-in-biofuel

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