# Record use of soybean oil for biofuel in May - McKeany-Flavell

> EIA data showed biodiesel and renewable diesel producers used a record 1.14 billion pounds of soybean oil in May, the first month above 1 billion pounds. Renewable diesel accounted for 478 million pounds, and yellow grease and corn oil use also set records.

- Date: 2023-08-22 · published 2023-08-22T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/34662-record-use-of-soybean-oil-for-biofuel-in-may-mckeany-flavell
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Record biofuel absorption of soybean oil tightens available supply for other uses and supports soybean oil prices, while the strong renewable diesel pull also lifts demand for feedstocks broadly.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-09-21 | [Jan-Jun soybean oil use for biofuel up 19% YOY - McKeany-Flavell](https://feedsoft.ai/events/15369-jan-jun-soybean-oil-use-for-biofuel-up-19-yoy-mckeany-flavell.md) | -5.8% | -0.8% |
| SBO | 2026-08-03 | [US soybean oil use for biofuels production hits record high in May - Fastmarkets](https://feedsoft.ai/events/14999-us-soybean-oil-use-for-biofuels-production-hits-record-high-in-may-fastmarkets.md) | +2.6% | -0.7% |
| SBO | 2022-01-05 | [Soybean oil edible use up 9.5% in November - McKeany-Flavell](https://feedsoft.ai/events/43240-soybean-oil-edible-use-up-9-5-in-november-mckeany-flavell.md) | +0.7% | +6.3% |
| SBO | 2020-10-16 | [September soybean crush sets record for month - McKeany-Flavell](https://feedsoft.ai/events/50713-september-soybean-crush-sets-record-for-month-mckeany-flavell.md) | +1.6% | +11.7% |
| SBO | 2026-05-12 | [May WASDE forecasts 25% increase in soybean oil use in biofuel for 2026-‘27 \| Biodiesel Magazine](https://feedsoft.ai/events/15024-may-wasde-forecasts-25-increase-in-soybean-oil-use-in-biofuel-for-2026-27.md) | +1.4% | -2.2% |

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/record-use-of-soybean-oil-for-biofuel-in-may-8-22-23/

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