# USDA maintains forecast for soybean oil use in biofuel production, reduces forecast for soybean oil prices | Biomass Magazine

> USDA's March WASDE kept its forecast for soybean oil used in biofuel production unchanged. The agency lowered its forecast for soybean oil prices. The article text is limited to the headline and byline.

- Date: 2024-03-08 · published 2024-03-08T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/31293-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-reduces
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A lower USDA price forecast signals a softer soybean oil market despite steady biofuel demand, which weighs on oil prices and crush margins.

## Read by commodity

- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-09-12 | [USDA lowers forecast for soybean oil use in biofuel production  \| Biomass Magazine](https://feedsoft.ai/events/39665-usda-lowers-forecast-for-soybean-oil-use-in-biofuel-production-biomass-magazine.md) | +0.3% | -6.6% |
| SBO | 2021-09-13 | [USDA reduces 2021-'22 forecast for soybean oil use in biofuel  \| Biodiesel Magazine](https://feedsoft.ai/events/44934-usda-reduces-2021-22-forecast-for-soybean-oil-use-in-biofuel-biodiesel-magazine.md) | -0.7% | +6.4% |
| SBO | 2025-01-10 | [January WASDE reduces 2024-’25 forecast for soybean oil use in biofuel production  \| Biodiesel Magazine](https://feedsoft.ai/events/15156-january-wasde-reduces-2024-25-forecast-for-soybean-oil-use-in-biofuel.md) | +7.6% | +9.6% |
| SBO | 2021-08-12 | [USDA lowers forecasts for soybean oil use in biofuel  \| Biodiesel Magazine](https://feedsoft.ai/events/45445-usda-lowers-forecasts-for-soybean-oil-use-in-biofuel-biodiesel-magazine.md) | -2.3% | -9.7% |
| SBO | 2025-04-30 | [US soybean oil consumption for RD production hits all-time low](https://feedsoft.ai/events/25203-us-soybean-oil-consumption-for-rd-production-hits-all-time-low.md) | -1.6% | -0.9% |

## Sources

- biomassmagazine.com: https://biomassmagazine.com/articles/usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-reduces-forecast-for-soybean-oil-prices

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