# A Change in Direction for Soybean Oil Futures? | CZ app

> Soybean oil futures showed a slight carry structure, with May at 54.57 cents and July at 54.70 cents per pound. US soybean processing is near record levels and renewable diesel demand remains strong.

- Date: 2023-04-19 · published 2023-04-19T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36471-a-change-in-direction-for-soybean-oil-futures-cz-app
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A firming soyoil curve signals a possible bottom and renewed demand from biofuel and food users, which supports soyoil prices and the crush margin that drives soymeal supply.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲

## Sources

- czapp.com: https://www.czapp.com/analyst-insights/a-change-in-direction-for-soybean-oil-futures/

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