◂ Event Timeline

May 12, 2022REPORTUS

USDA: More soybean oil will go biofuel production in 2022-“23

USDA projects more soybean oil will go to biofuel production in the 2022-23 marketing year. The report signals strong domestic biofuel demand for the oil.

WHY IT MATTERS

Rising biofuel use of soybean oil tightens the supply available for food and export, supporting soybean oil prices and reducing meal-relative crush economics.

AFFECTSSoybean Oil▲

SOURCE
biodieselmagazine.comMay 12, 2022

Price reaction & history

Soybean Oil▲bullishSO FAR1d -0.4%5d -4.9%20d -5.6%

After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.

Feb 26, 2025USDA predicts soybean oil use in biofuel production will increase in 2025-‘26 | Biodiesel Magazine-5.7%
Jan 12, 2024USDA boosts forecast for 2023-’24 soybean oil use in biofuel production | Biodiesel Magazine-0.1%
Sep 12, 2024USDA increases estimates for 2022-’23 and 2023-’24 soybean oil use in biofuel production | Biodiesel Magazine-0.0%
Jul 31, 2020US biodiesel production ticks up in May, soybean oil use hits 70% | Biodiesel Magazine+5.1%
Nov 28, 2023USDA increase estimate for 2022-’23 soybean oil use in biofuel | Biomass Magazine-1.5%

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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