# Will CBOT Soybean Oil's Bearish Trend Persist?

> Vegetable oil prices declined after the August WASDE raised US 2024/25 soybean planted area to 87.1 million acres and production to 4.589 billion bushels, with world soybean ending stocks revised up to 134.30 million tonnes. US farmers are selling to clear storage, adding pressure on soybean and oil prices.

- Date: 2024-08-14 · published 2024-08-14T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/28880-will-cbot-soybean-oil-s-bearish-trend-persist
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Bigger US supplies and higher world stocks point to weaker soybean and soyoil prices, while a firmer dollar also weighs on dollar-denominated oilseed values.

## Read by commodity

- DXY: bullish ▲
- SBO: bearish ▼
- SOY: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-10-11 | [Turner's Take Ag Marketing \| October WASDE Bearish for Soybeans and Corn](https://feedsoft.ai/events/44488-turner-s-take-ag-marketing-october-wasde-bearish-for-soybeans-and-corn.md) | -2.0% | -4.1% |
| SOY | 2023-07-12 | [USDA Report Bearish News for Corn and Soybeans](https://feedsoft.ai/events/34982-usda-report-bearish-news-for-corn-and-soybeans.md) | -1.9% | -6.0% |
| SOY | 2021-10-12 | [WASDE Report Prints Bearish Soybean Data, Sends Market Reeling](https://feedsoft.ai/events/44486-wasde-report-prints-bearish-soybean-data-sends-market-reeling.md) | -0.5% | -4.1% |
| SOY | 2023-07-13 | [Bearish WASDE Report Impacting Corn, Soybeans, and Wheat](https://feedsoft.ai/events/34985-bearish-wasde-report-impacting-corn-soybeans-and-wheat.md) | +0.2% | -3.8% |
| SOY | 2021-09-30 | [Turner's Take Podcast \| Quarterly Stocks Report Bearish Soybeans](https://feedsoft.ai/events/45042-turner-s-take-podcast-quarterly-stocks-report-bearish-soybeans.md) | -3.3% | -3.5% |
| SBO | 2023-05-18 | [W19: Soybean Oil Update](https://feedsoft.ai/events/36026-w19-soybean-oil-update.md) | +2.7% | +15.5% |
| SBO | 2026-04-10 | [CBOT review: Soybeans rise with soymeal \| The Western Producer](https://feedsoft.ai/events/11662-cbot-review-soybeans-rise-with-soymeal-the-western-producer.md) | -3.0% | +4.2% |
| SBO | 2019-07-25 | [Palm and soybean oil lose a lot of ground - Renewable Carbon News](https://feedsoft.ai/events/58176-palm-and-soybean-oil-lose-a-lot-of-ground-renewable-carbon-news.md) | -1.9% | +1.6% |

## Sources

- vespertool.com: https://vespertool.com/news/will-cbot-soybean-oils-bearish-price-trends-persist/

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