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Sep 12, 2022REPORTUS

USDA lowers forecast for soybean oil use in biofuel production

USDA has lowered its forecast for soybean oil used in biofuel production, according to a report published September 12, 2022. The revision reflects reduced expected biofuel demand for soy oil in the US.

WHY IT MATTERS

A smaller biofuel use forecast leaves more soybean oil available for other uses, which weighs on soy oil prices.

AFFECTSSoybean Oil▼

SOURCE
biomassmagazine.comSep 12, 2022

Price reaction & history

Soybean Oil▼bearishSO FAR1d +2.3%5d +0.3%20d -6.6%

After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% over 20.

Mar 8, 2024USDA maintains forecast for soybean oil use in biofuel production, reduces forecast for soybean oil prices | Biomass Magazine+3.6%
Aug 12, 2021USDA lowers forecasts for soybean oil use in biofuel | Biodiesel Magazine-2.3%
Sep 13, 2021USDA reduces 2021-'22 forecast for soybean oil use in biofuel | Biodiesel Magazine-0.7%
Jan 10, 2025January WASDE reduces 2024-’25 forecast for soybean oil use in biofuel production | Biodiesel Magazine+7.6%
Apr 30, 2025US soybean oil consumption for RD production hits all-time low-1.6%

Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.

Soybean Oil SBO · GP ▸

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