# Soy Products Take Bearish Hit in September

> December soybean meal closed at $381.20 on September 29, down $22.80 on the month and below its 100-day average. December soybean oil closed at 55.83 cents, its lowest in three months, after a steep fall in RIN prices suggested 2023 renewable fuel output was nearing mandated levels.

- Date: 2023-10-02 · published 2023-10-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/33713-soy-products-take-bearish-hit-in-september
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Falling RIN prices suggest renewable fuel demand for soyoil may ease, and weaker soymeal prices lower the cost of protein for feed buyers, with the trend pointing down for both products.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/technically-speaking/blog-post/2023/10/02/soy-products-take-bearish-hit

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