# Soybean oil prices fall 4% amid possible reduction in demand from the biodiesel industry

> December soybean oil futures fell 4% to about $1,134/t on the Friday after Thanksgiving after the US Fifth Circuit Court of Appeals sided with several small refiners (Ergon, Calumet Shreveport, Placid) that challenged EPA's rejection of their small-refinery exemption petitions. The court ruled the EPA's waiver denials were impermissibly retroactive and inconsistent with law. Palm oil on Bursa Malaysia also fell 1.55%.

- Date: 2023-11-27 · published 2023-11-27T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/33251-soybean-oil-prices-fall-4-amid-possible-reduction-in-demand-from-the-biodiesel
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A ruling that lets small refiners skip RFS blending obligations and tradable credit purchases reduces expected biofuel demand for soybean oil, the main support for US crush-driven oil prices, so the price implication is bearish for soybean oil and palm oil.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-12-06 | [Soybean oil prices fall amid shrinking prospects for US biodiesel consumption](https://feedsoft.ai/events/38342-soybean-oil-prices-fall-amid-shrinking-prospects-for-us-biodiesel-consumption.md) | -3.2% | -5.8% |
| SBO | 2021-04-19 | [Soybean Oil Prices Plummet After Brazil Reduces Biodiesel Blend In Diesel - CPG Click Oil and Gas](https://feedsoft.ai/events/47670-soybean-oil-prices-plummet-after-brazil-reduces-biodiesel-blend-in-diesel-cpg.md) | +8.1% | +16.8% |
| SBO | 2024-05-01 | [New system of subsidies for biodiesel production in the US has brought down soybean oil prices](https://feedsoft.ai/events/30343-new-system-of-subsidies-for-biodiesel-production-in-the-us-has-brought-down.md) | +2.5% | +8.4% |
| SBO | 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) | +1.8% | — |
| SBO | 2025-06-02 | [Soybean oil quotations are declining against the backdrop of uncertainty in the US biofuel market and falling oil prices, but the reduction of duties in India will strengthen demand](https://feedsoft.ai/events/10944-soybean-oil-quotations-are-declining-against-the-backdrop-of-uncertainty-in-the.md) | -2.3% | +5.8% |
| PALMOIL | 2022-12-06 | [Soybean oil prices fall amid shrinking prospects for US biodiesel consumption](https://feedsoft.ai/events/38342-soybean-oil-prices-fall-amid-shrinking-prospects-for-us-biodiesel-consumption.md) | -4.6% | +3.7% |
| PALMOIL | 2021-04-19 | [Soybean Oil Prices Plummet After Brazil Reduces Biodiesel Blend In Diesel - CPG Click Oil and Gas](https://feedsoft.ai/events/47670-soybean-oil-prices-plummet-after-brazil-reduces-biodiesel-blend-in-diesel-cpg.md) | +2.2% | +14.5% |
| PALMOIL | 2024-12-19 | [Edible oil prices tumble on US ethanol plan and record soybean supplies](https://feedsoft.ai/events/27051-edible-oil-prices-tumble-on-us-ethanol-plan-and-record-soybean-supplies.md) | -0.1% | -11.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/soybean-oil-prices-fall-4-amid-possible-reduction-in-demand-from-the-biodiesel-industry/

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