# Soybean oil market waiting on EPA | Baking Business

> At the USDA Agricultural Outlook Forum in late February, ASA chief economist Scott Gerlt outlined a 2023 soybean outlook. He cited renewable diesel development, China's hog herd and Brazil's potentially record soybean crop as the main drivers of global soybean growth.

- Date: 2023-03-09 · published 2023-03-09T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/15323-soybean-oil-market-waiting-on-epa-baking-business
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Renewable diesel demand supports soybean oil prices, while Brazil's large crop and China's hog-driven meal demand shape soybean and meal balances; the net effect is a mixed outlook for soybean prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2025-01-15 | [Why is the world suddenly clamoring for US soybean oil? \| Food Business News](https://feedsoft.ai/events/8104-why-is-the-world-suddenly-clamoring-for-us-soybean-oil-food-business-news.md) | +1.2% | +3.1% |
| SBO | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | +6.2% | +2.3% |
| SBO | 2020-08-12 | [Palm oil reverses early losses - Markets - Business Recorder](https://feedsoft.ai/events/51736-palm-oil-reverses-early-losses-markets-business-recorder.md) | +1.7% | +6.9% |
| SBO | 2023-03-09 | [China, Brazil, EPA factor in soybean price direction \| Food Business News](https://feedsoft.ai/events/15328-china-brazil-epa-factor-in-soybean-price-direction-food-business-news.md) | -5.4% | -5.1% |
| SBO | 2020-07-31 | [Soybeans firm as US biodiesel data lifts soyoil; corn flat - Markets - Business Recorder](https://feedsoft.ai/events/51967-soybeans-firm-as-us-biodiesel-data-lifts-soyoil-corn-flat-markets-business.md) | +5.1% | +11.1% |
| SOY | 2023-03-09 | [China, Brazil, EPA factor in soybean price direction \| Food Business News](https://feedsoft.ai/events/15328-china-brazil-epa-factor-in-soybean-price-direction-food-business-news.md) | -2.5% | -1.0% |
| SOY | 2024-06-13 | [Three Things Currently Impacting The Soybean Market](https://feedsoft.ai/events/29785-three-things-currently-impacting-the-soybean-market.md) | -1.9% | -3.6% |
| SOY | 2020-08-11 | [CBOT soybeans end near unchanged ahead of US crop report - Markets - Business Recorder](https://feedsoft.ai/events/10683-cbot-soybeans-end-near-unchanged-ahead-of-us-crop-report-markets-business.md) | +4.1% | +11.0% |

## Sources

- bakingbusiness.com: https://www.bakingbusiness.com/articles/58592-soybean-oil-market-waiting-on-epa

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