# Implied US soybean oil demand eases in November - The Jacobsen

> USDA data showed US soybean oil stocks reached 1.61 billion lb at the end of November 2024, up 2.5% from October. Implied domestic demand eased after several months of robust consumption as biofuel buyers started to slow purchases at year-end.

- Date: 2025-01-02 · published 2025-01-02T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/26609-implied-us-soybean-oil-demand-eases-in-november-the-jacobsen
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Rising soybean oil stocks and softer biofuel-driven demand are bearish for soybean oil prices and weigh on crush margins that support meal output.

## Read by commodity

- SBM: neutral
- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-12-19 | [US soybean oil sales plunge 91%, exports down 18% - The Jacobsen](https://feedsoft.ai/events/27050-us-soybean-oil-sales-plunge-91-exports-down-18-the-jacobsen.md) | -0.1% | +9.1% |
| SBO | 2018-10-19 | [Soybean oil production increased in September - McKeany-Flavell](https://feedsoft.ai/events/62629-soybean-oil-production-increased-in-september-mckeany-flavell.md) | -2.2% | -4.6% |
| SBO | 2022-12-14 | [Lower soybean oil demand means higher ending stocks \| 680 KFEQ](https://feedsoft.ai/events/38343-lower-soybean-oil-demand-means-higher-ending-stocks-680-kfeq.md) | -0.2% | -3.1% |
| SBO | 2023-02-10 | [US soybean and oil prices decline w-o-w following WASDE report](https://feedsoft.ai/events/37421-us-soybean-and-oil-prices-decline-w-o-w-following-wasde-report.md) | +3.0% | -0.4% |
| SBO | 2023-10-16 | [USDA improved the forecast for Ukrainian sunflower oil](https://feedsoft.ai/events/33751-usda-improved-the-forecast-for-ukrainian-sunflower-oil.md) | +2.4% | -0.3% |
| SBM | 2018-12-23 | [NOPA: US Soybean Oil Stocks Fell For 7 Consecutive Months At The End Of November - News - Jiaao Enprotech](https://feedsoft.ai/events/61638-nopa-us-soybean-oil-stocks-fell-for-7-consecutive-months-at-the-end-of-november.md) | +0.2% | +2.4% |
| SBM | 2026-08-21 | [China more than doubles US soybean imports in July](https://feedsoft.ai/events/14556-china-more-than-doubles-us-soybean-imports-in-july.md) | +5.0% | +16.1% |
| SBM | 2025-04-11 | [Brazil's rising biodiesel demand restricts soybean oil exports](https://feedsoft.ai/events/25204-brazil-s-rising-biodiesel-demand-restricts-soybean-oil-exports.md) | -0.1% | -3.3% |

## Sources

- thejacobsen.com: https://thejacobsen.com/2025/01/02/implied-us-soybean-oil-demand-eases-in-november/

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