# USDA: More soybean oil will go biofuel production in 2022-“23 | Biodiesel Magazine

> 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.

- Date: 2022-05-12 · published 2022-05-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/41485-usda-more-soybean-oil-will-go-biofuel-production-in-2022-23-biodiesel-magazine
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## 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.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2025-02-26 | [USDA predicts soybean oil use in biofuel production will increase in 2025-‘26 \| Biodiesel Magazine](https://feedsoft.ai/events/15143-usda-predicts-soybean-oil-use-in-biofuel-production-will-increase-in-2025-26.md) | -5.7% | -5.1% |
| SBO | 2024-01-12 | [USDA boosts forecast for 2023-’24 soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15246-usda-boosts-forecast-for-2023-24-soybean-oil-use-in-biofuel-production.md) | -0.1% | -4.0% |
| SBO | 2024-09-12 | [USDA increases estimates for 2022-’23 and 2023-’24 soybean oil use in biofuel production  \| Biodiesel Magazine](https://feedsoft.ai/events/15188-usda-increases-estimates-for-2022-23-and-2023-24-soybean-oil-use-in-biofuel.md) | -0.0% | +3.5% |
| SBO | 2020-07-31 | [US biodiesel production ticks up in May, soybean oil use hits 70% \| Biodiesel Magazine](https://feedsoft.ai/events/52197-us-biodiesel-production-ticks-up-in-may-soybean-oil-use-hits-70-biodiesel.md) | +5.1% | +11.1% |
| SBO | 2023-11-28 | [USDA increase estimate for 2022-’23 soybean oil use in biofuel \| Biomass Magazine](https://feedsoft.ai/events/15262-usda-increase-estimate-for-2022-23-soybean-oil-use-in-biofuel-biomass-magazine.md) | -1.5% | -4.8% |

## Sources

- biodieselmagazine.com: https://biodieselmagazine.com/articles/usda-more-soybean-oil-will-go-biofuel-production-in-2022-23-2518126

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