# Terrain | Soybean Oil Moves Toward The Driver’s Seat in Demand

> Terrain analysis argues soybean oil is gaining importance in demand, with renewable diesel expected to drive the soybean complex over the long term. It forecasts a record South American crop in 2023 and below-average soybean profitability for the year. New crushing capacity should lift domestic oil demand by late 2023.

- Date: 2023-02-02 · published 2023-02-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37420-terrain-soybean-oil-moves-toward-the-driver-s-seat-in-demand
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expanding crush capacity and renewable diesel demand support soybean oil and meal values over time. A record South American crop would cap bean prices in the near term.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bearish ▼

## Sources

- terrainag.com: https://www.terrainag.com/insights/soybean-oil-moves-toward-the-drivers-seat-in-demand/

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