# Latin American soy crush to rise in 2024 on crop recovery, higher biodiesel mandate

> S&P Global forecasts combined soybean crush in Argentina and Brazil at 92.10 million mt in 2024, up 15.3% from 2023. The increase reflects Argentina's crop recovery to an expected 50.5 million mt and a higher Brazilian biodiesel mandate.

- Date: 2023-12-28 · published 2023-12-28T12:00:00.000Z
- Category: report · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/32785-latin-american-soy-crush-to-rise-in-2024-on-crop-recovery-higher-biodiesel
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher Latin American crush adds meal and oil supply to world markets, which can weigh on meal prices, while the biodiesel mandate supports soyoil demand.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-01-04 | [Latin America soybean crush set to rise in 2022 despite headwinds 04.01.2022 - UkrAgroConsult](https://feedsoft.ai/events/14060-latin-america-soybean-crush-set-to-rise-in-2022-despite-headwinds-04-01-2022.md) | +0.8% | -0.4% |
| SBM | 2017-08-10 | [Surprise, Another Big Corn and Soybean Crop On the Way \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/69397-surprise-another-big-corn-and-soybean-crop-on-the-way-farm-bureau-intel-markets.md) | -3.9% | -1.4% |
| SBM | 2023-07-12 | [Record-Large Corn Crop, Higher Stockpiles Send Grain and Soy to Big Losses](https://feedsoft.ai/events/34981-record-large-corn-crop-higher-stockpiles-send-grain-and-soy-to-big-losses.md) | +5.0% | +3.5% |
| SBM | 2026-04-13 | [Crush Demand Drives Soy Complex Higher as USDA Raises Price Outlook - American Soybean Association](https://feedsoft.ai/events/15037-crush-demand-drives-soy-complex-higher-as-usda-raises-price-outlook-american.md) | +0.7% | -1.2% |
| SBM | 2022-07-14 | [Brazil to produce record amount of soybean meal, oil amid higher crush margins \| S&P Global](https://feedsoft.ai/events/40581-brazil-to-produce-record-amount-of-soybean-meal-oil-amid-higher-crush-margins-s.md) | -9.1% | +4.9% |
| SBO | 2026-08-13 | [Soy Demand Rises to Meet Large Crop - American Soybean Association](https://feedsoft.ai/events/17962-soy-demand-rises-to-meet-large-crop-american-soybean-association.md) | +0.5% | +0.9% |
| SBO | 2026-04-13 | [Crush Demand Drives Soy Complex Higher as USDA Raises Price Outlook - American Soybean Association](https://feedsoft.ai/events/15037-crush-demand-drives-soy-complex-higher-as-usda-raises-price-outlook-american.md) | -3.3% | +4.7% |
| SBO | 2023-01-13 | [US soybean crop and oil prices rise after cuts in the 2022/23 MY crop estimate](https://feedsoft.ai/events/37865-us-soybean-crop-and-oil-prices-rise-after-cuts-in-the-2022-23-my-crop-estimate.md) | -1.6% | -9.4% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/latin-american-soy-crush-to-rise-in-2024-on-crop-recovery-higher-biodiesel-mandate-2/

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