# USDA maintains forecast for soybean oil use in biofuel 10.11.2021 - UkrAgroConsult

> The USDA's November WASDE kept its 2021-22 soybean oil biofuel forecast at 11 billion pounds and raised its 2020-21 estimate to 8.85 billion pounds. It cut US soybean production by 23 million bushels to 4.42 billion on lower yields, reduced exports and raised ending stocks by 20 million bushels.

- Date: 2021-11-10 · published 2021-11-10T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/15437-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-10-11-2021-ukragroconsult
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A smaller US crop and lower exports push soybean prices higher, which supports the soybean complex. Soybean meal and oil prices were left unchanged in the forecast, so the effect is mainly on beans.

## Read by commodity

- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-09-13 | [USDA  Maintains 2023-'24 Forecast for Soybean Oil Use in Biofuel - World-Energy](https://feedsoft.ai/events/15275-usda-maintains-2023-24-forecast-for-soybean-oil-use-in-biofuel-world-energy.md) | -1.2% | -4.5% |
| SOY | 2024-01-12 | [USDA boosts forecast for 2023-’24 soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15246-usda-boosts-forecast-for-2023-24-soybean-oil-use-in-biofuel-production.md) | -1.5% | -3.9% |
| SOY | 2023-11-28 | [USDA increase estimate for 2022-’23 soybean oil use in biofuel \| Biomass Magazine](https://feedsoft.ai/events/15262-usda-increase-estimate-for-2022-23-soybean-oil-use-in-biofuel-biomass-magazine.md) | -1.8% | -1.2% |
| SOY | 2021-11-09 | [US soybean production cut in surprise move – WASDE 10.11.2021 - UkrAgroConsult](https://feedsoft.ai/events/44007-us-soybean-production-cut-in-surprise-move-wasde-10-11-2021-ukragroconsult.md) | +6.7% | +6.1% |
| SOY | 2026-09-11 | [USDA: September WASDE increases estimate for 2025-’26 soybean oil use in biofuel \| Biomass Magazine](https://feedsoft.ai/events/14998-usda-september-wasde-increases-estimate-for-2025-26-soybean-oil-use-in-biofuel.md) | +0.3% | -2.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/usda-maintains-forecast-for-soybean-oil-use-in-biofuel/

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