# W37: Soybean Oil Update

> CBOT soybean oil futures moved sharply from September 11 to 14, dipping after a USDA report and then rebounding about 3% on a lower US production estimate. Heat and dryness in the Midwest added support, with futures near $0.629/lb.

- Date: 2023-09-22 · published 2023-09-22T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/34203-w37-soybean-oil-update
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Lower US soybean supply and tight oil exports support soyoil prices, which lift the cost of high-energy fat ingredients in feed.

## Read by commodity

- SBO: bullish ▲

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w37-soybean-oil-update

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