# Economist's Angle: Food vs. Fuel? - American Soybean Association

> US biofuel use of soybean oil in 2021 has not risen above 2020 levels through July, despite announced renewable diesel plants. Federal blending requirements for 2021 are unchanged from 2020, so the growth reflects market preference rather than new policy. Soybean oil prices have been higher.

- Date: 2021-11-04 · published 2021-11-04T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/15431-economist-s-angle-food-vs-fuel-american-soybean-association
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Flat biofuel use alongside higher oil prices suggests the price strength is coming from expectations of future renewable diesel demand rather than current consumption. If announced capacity is only partly built, that expectation could fade and weigh on soybean oil.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-09-01 | [Economist's Angle: What’s in the Inflation Reduction Act for Soybeans? - American Soybean Association](https://feedsoft.ai/events/15371-economist-s-angle-what-s-in-the-inflation-reduction-act-for-soybeans-american.md) | -2.6% | -10.8% |
| SBO | 2026-01-21 | [Biofuel: Staying Competitive - American Soybean Association](https://feedsoft.ai/events/15057-biofuel-staying-competitive-american-soybean-association.md) | +3.9% | +8.2% |
| SBO | 2019-01-29 | [Biodiesel Market in EU Opens for U.S. Soybeans - American Soybean Association](https://feedsoft.ai/events/61201-biodiesel-market-in-eu-opens-for-u-s-soybeans-american-soybean-association.md) | -0.6% | -0.7% |
| SBO | 2018-11-30 | [EPA Announces Biodiesel and Advanced Biofuels Volumes - American Soybean Association](https://feedsoft.ai/events/61900-epa-announces-biodiesel-and-advanced-biofuels-volumes-american-soybean.md) | +3.0% | -0.5% |
| SBO | 2021-05-11 | [Biodiesel: Better, Cleaner, Now! - American Soybean Association](https://feedsoft.ai/events/46965-biodiesel-better-cleaner-now-american-soybean-association.md) | +3.4% | +3.7% |

## Sources

- soygrowers.com: https://soygrowers.com/news-releases/economists-angle-food-vs-fuel/

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