# Soybean Oil Prices in South America Hit Two-Year Low

> FOB soybean oil prices in South America fell to their lowest level in more than two years, down about 20% in 2023 while CBOT futures lost 15%. Prompt premiums were unusually low at minus 980 points to May CBOT on March 22 compared with positive levels a year earlier. Brazil's new biodiesel mandate, rising to B15 by 2026, disappointed industry participants expecting a faster increase.

- Date: 2023-03-24 · published 2023-03-24T12:00:00.000Z
- Category: policy · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/36961-soybean-oil-prices-in-south-america-hit-two-year-low
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak South American oil values and basis reduce crusher margins and pressure soybean oil prices, while the slower biodiesel blend path limits domestic demand support. Lower oil values may push crushers toward more meal output.

## Read by commodity

- SBM: bullish ▲
- SBO: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-06-16 | [Soybeans hit 2-month low as vegetable oil prices tumble \| Financial Post](https://feedsoft.ai/events/6441-soybeans-hit-2-month-low-as-vegetable-oil-prices-tumble-financial-post.md) | -6.8% | -2.7% |
| SBO | 2017-06-01 | [Anti-dumping taxes fear for soybean oil prices](https://feedsoft.ai/events/70581-anti-dumping-taxes-fear-for-soybean-oil-prices.md) | +0.1% | +2.5% |
| SBO | 2026-10-15 | [Soybean oil prices fall amid new US biofuel proposals](https://feedsoft.ai/events/510-soybean-oil-prices-fall-amid-new-us-biofuel-proposals.md) | +1.8% | — |
| SBO | 2026-10-01 | [Rising biodiesel imports cap US soybean oil prices](https://feedsoft.ai/events/17543-rising-biodiesel-imports-cap-us-soybean-oil-prices.md) | +1.8% | +3.3% |
| SBO | 2021-06-18 | [Soybean Oil Has a Bearish Week](https://feedsoft.ai/events/46688-soybean-oil-has-a-bearish-week.md) | +0.5% | +4.0% |
| SBM | 2021-11-01 | [Argentina to Plant Lowest Soybean Acreage in 15 Years](https://feedsoft.ai/events/14071-argentina-to-plant-lowest-soybean-acreage-in-15-years.md) | +0.2% | +2.8% |
| SBM | 2017-11-27 | [Soybean prices to trade higher: Angel Commodities- Moneycontrol.com](https://feedsoft.ai/events/68081-soybean-prices-to-trade-higher-angel-commodities-moneycontrol-com.md) | +1.4% | -3.4% |
| SBM | 2025-05-15 | [Soybeans Collapse on Thursday with RVO Rumors and Bean Oil Limit Losses](https://feedsoft.ai/events/24782-soybeans-collapse-on-thursday-with-rvo-rumors-and-bean-oil-limit-losses.md) | +2.1% | +2.1% |

## Sources

- chemanalyst.com: https://www.chemanalyst.com/NewsAndDeals/NewsDetails/soybean-oil-prices-in-south-america-hit-two-year-low-16842

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