# Why are soybean oil futures stuck in neutral? | World Grain

> Soybean oil futures have stayed rangebound, mostly between the mid-60 and mid-70 cents per pound, since mid-July despite soybean futures hitting three-year highs and WTI near or above $100 per barrel. The dominant factor is supply and demand, after EPA set record biomass-based diesel mandates for 2026 and 2027 and kept full credit for imported feedstocks.

- Date: 2026-09-23 · published 2026-09-23T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/17542-why-are-soybean-oil-futures-stuck-in-neutral-world-grain
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Surging imports of feedstocks and finished biodiesel have created a domestic surplus that caps soybean oil price gains despite strong biofuel demand. Buyers of soybean meal and oil should not expect strong vegoil-led upside until that surplus is absorbed.

## Read by commodity

- SBO: bearish ▼
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2025-05-27 | [Soybean Oil Futures Hit Limit Down On RVO Speculation \| Bricsgrain](https://feedsoft.ai/events/24779-soybean-oil-futures-hit-limit-down-on-rvo-speculation-bricsgrain.md) | -5.4% | +2.9% |
| SBO | 2025-05-15 | [Soybean, Soyoil futures slide; Wheat, Corn Rally \| The Brock Report](https://feedsoft.ai/events/24781-soybean-soyoil-futures-slide-wheat-corn-rally-the-brock-report.md) | -0.8% | -4.5% |
| SBO | 2026-10-14 | [CBOT soybean oil futures plunge as EPA biofuel proposal weighs on the market \| S&P Global](https://feedsoft.ai/events/502-cbot-soybean-oil-futures-plunge-as-epa-biofuel-proposal-weighs-on-the-market-s.md) | +2.4% | — |
| SBO | 2024-07-30 | [US crude-degummed soybean oil basis slips amid weak soy oil futures - The Jacobsen](https://feedsoft.ai/events/29356-us-crude-degummed-soybean-oil-basis-slips-amid-weak-soy-oil-futures-the-jacobsen.md) | -1.8% | -1.8% |
| SBO | 2021-06-16 | [U.S. grains: Soybeans down with vegetable oil prices - AgCanada](https://feedsoft.ai/events/6440-u-s-grains-soybeans-down-with-vegetable-oil-prices-agcanada.md) | -6.8% | -2.7% |
| SOY | 2016-11-04 | [ADM sees ‘fluid situation’ surrounding Argentine soybean meal  \| World-grain.com \| November 04, 2016 12:00 \| World Grain](https://feedsoft.ai/events/73928-adm-sees-fluid-situation-surrounding-argentine-soybean-meal-world-grain-com.md) | +0.9% | +6.5% |
| SOY | 2021-10-12 | [Oil becoming new driver for soybean industry](https://feedsoft.ai/events/44619-oil-becoming-new-driver-for-soybean-industry.md) | -0.5% | -4.1% |
| SOY | 2026-03-27 | [Soybean Futures Drop After EPA Releases New RFS Rules -- Daily Grain Highlights \| MarketScreener UAE Emirates](https://feedsoft.ai/events/20196-soybean-futures-drop-after-epa-releases-new-rfs-rules-daily-grain-highlights.md) | -0.9% | -0.9% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/23248-why-are-soybean-oil-futures-stuck-in-neutral

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