# W47 2024: Soybean Oil Weekly Update

> CBOT soybean oil futures fell about 5% over two sessions to USD 954/mt for Dec-24 delivery, despite a 1.9% monthly gain. The decline followed uncertainty over US green energy policy, while USDA trimmed the US soybean harvest forecast and Brazil's 2025 output was projected higher.

- Date: 2024-11-29 · published 2024-11-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/27476-w47-2024-soybean-oil-weekly-update
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Policy uncertainty around biofuel incentives is weighing on soyoil, which is the main driver of domestic biodiesel demand and therefore soybean crush economics. Bearish policy sentiment is pressuring prices despite tighter US supply signals.

## Read by commodity

- SBO: bearish ▼
- SOY: neutral

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w47-2024-soybean-oil-weekly-update

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