# Cargill, Bunge Slow Soybean Buying on Stalled US Biofuels Policy - Bloomberg

> Cargill and Bunge are slowing soybean purchases amid uncertainty over US biofuels policy, specifically the lack of guidance on the new clean-fuel tax credit (45Z). Biofuel producers are postponing some soyoil purchases for early next year, which is damping soybean demand.

- Date: 2024-10-28 · published 2024-10-28T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/27949-cargill-bunge-slow-soybean-buying-on-stalled-us-biofuels-policy-bloomberg
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weaker crush-related demand for soybeans and soyoil reduces near-term buying support, which is bearish for soybean and soyoil prices until the tax credit guidance arrives.

## Read by commodity

- SBM: neutral
- SBO: bearish ▼
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-11-04 | [Cargill, Bunge Slow Soy Buying on Stalled US Biofuels Policy](https://feedsoft.ai/events/15168-cargill-bunge-slow-soy-buying-on-stalled-us-biofuels-policy.md) | +3.5% | +0.3% |
| SOY | 2026-01-16 | [US soybean oil prices stall amid biofuel policy, 45Z uncertainty: 2026 preview - Fastmarkets](https://feedsoft.ai/events/15055-us-soybean-oil-prices-stall-amid-biofuel-policy-45z-uncertainty-2026-preview.md) | +1.4% | +7.6% |
| SOY | 2024-10-29 | [Soybean Demand Drops as US Biofuel Tax Credit Stalls - TT](https://feedsoft.ai/events/15173-soybean-demand-drops-as-us-biofuel-tax-credit-stalls-tt.md) | +1.4% | +1.2% |
| SOY | 2026-10-15 | [Soybean oil prices fall amid new US biofuel proposals](https://feedsoft.ai/events/510-soybean-oil-prices-fall-amid-new-us-biofuel-proposals.md) | -1.4% | — |
| SOY | 2025-11-04 | [ADM cuts 2025 outlook on US biofuel policy delays, trade woes](https://feedsoft.ai/events/15070-adm-cuts-2025-outlook-on-us-biofuel-policy-delays-trade-woes.md) | -0.3% | +0.4% |
| SBO | 2024-11-04 | [Cargill, Bunge Slow Soy Buying on Stalled US Biofuels Policy](https://feedsoft.ai/events/15168-cargill-bunge-slow-soy-buying-on-stalled-us-biofuels-policy.md) | +5.2% | -6.9% |
| SBO | 2026-01-16 | [US soybean oil prices stall amid biofuel policy, 45Z uncertainty: 2026 preview - Fastmarkets](https://feedsoft.ai/events/15055-us-soybean-oil-prices-stall-amid-biofuel-policy-45z-uncertainty-2026-preview.md) | +1.3% | +6.8% |
| SBO | 2024-10-29 | [Soybean Demand Drops as US Biofuel Tax Credit Stalls - TT](https://feedsoft.ai/events/15173-soybean-demand-drops-as-us-biofuel-tax-credit-stalls-tt.md) | +5.8% | -2.0% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-10-28/cargill-bunge-slow-soybean-buying-on-stalled-us-biofuels-policy

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