# January Soybean Oil Has Been Beaten Down, But Could Be Ready to Turn

> DTN analyst Dana Mantini says January soybean oil has fallen as much as 16 cents per pound since August despite a solid renewable diesel outlook. He notes soybean meal exports are at a record pace and that bean oil stocks fell to their lowest since 2021. He sees a possible bullish reversal if prices close above 50.15 cents.

- Date: 2023-11-06 · published 2023-11-06T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/33252-january-soybean-oil-has-been-beaten-down-but-could-be-ready-to-turn
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Technical signals and falling oil stocks point to a possible rebound in soybean oil, but the outcome depends on the November WASDE yield, so traders should watch for a turn higher.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/technically-speaking/blog-post/2023/11/06/january-soybean-oil-beaten-ready

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