# China, Brazil, EPA factor in soybean price direction | Food Business News

> At the USDA Agricultural Outlook Forum, ASA chief economist Scott Gerlt highlighted renewable diesel, China's hog population and Brazil's potential record crop as drivers of the 2023 soybean market. He explained that renewable diesel can fully replace petroleum diesel and is often produced in petroleum facilities.

- Date: 2023-03-09 · published 2023-03-09T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/15328-china-brazil-epa-factor-in-soybean-price-direction-food-business-news
- 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

Expanding renewable diesel capacity raises soybean oil demand, while Brazil's record crop and China's hog herd affect global soybean and meal supply and demand.

## 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 | 2023-03-09 | [Soybean oil market waiting on EPA \| Baking Business](https://feedsoft.ai/events/15323-soybean-oil-market-waiting-on-epa-baking-business.md) | -5.4% | -5.1% |
| SBO | 2026-05-14 | [New-Crop Soybean Oil Export Projection Suggests Greater Price Volatility - farmdoc daily](https://feedsoft.ai/events/15029-new-crop-soybean-oil-export-projection-suggests-greater-price-volatility.md) | +0.5% | -2.1% |
| SBO | 2023-11-03 | [Increased Renewable Diesel Production is Attracting Competition for Soybean Oil](https://feedsoft.ai/events/15258-increased-renewable-diesel-production-is-attracting-competition-for-soybean-oil.md) | +2.0% | +6.9% |
| SBO | 2022-05-04 | [Strong soybean oil demand elevating price \| DRGNews](https://feedsoft.ai/events/41482-strong-soybean-oil-demand-elevating-price-drgnews.md) | +2.6% | -5.4% |
| SOY | 2023-03-09 | [Soybean oil market waiting on EPA \| Baking Business](https://feedsoft.ai/events/15323-soybean-oil-market-waiting-on-epa-baking-business.md) | -2.5% | -1.0% |
| SOY | 2026-08-01 | [Soybean prices need poor weather, exports to China](https://feedsoft.ai/events/18360-soybean-prices-need-poor-weather-exports-to-china.md) | -1.3% | +8.9% |
| SOY | 2017-04-18 | [Mixed data signals but plenty of grain, soybeans going forward \| Food Business News \| April 18, 2017 16:01](https://feedsoft.ai/events/71449-mixed-data-signals-but-plenty-of-grain-soybeans-going-forward-food-business.md) | +0.8% | +1.3% |

## Sources

- foodbusinessnews.net: https://www.foodbusinessnews.net/articles/23373-china-brazil-epa-factor-in-soybean-price-direction

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