# US soybean oil, though pricy, not running out | Food Business News

> Soybean oil is high in price but available in the US, according to Mac Marshall of the United Soybean Board. CBOT soybean oil was 59¢/lb on Jan. 12, up 37% year on year, and palm oil and coffee have also risen sharply. USDA data show biofuel use rising to 42% of domestic soybean oil use in 2021-22, with exports falling.

- Date: 2022-01-28 · published 2022-01-28T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/43238-us-soybean-oil-though-pricy-not-running-out-food-business-news
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Biofuel demand is absorbing soybean oil that would otherwise go to exports and food, keeping prices elevated. New crushing capacity could ease supply within two years.

## Read by commodity

- SBO: bullish ▲

## Sources

- foodbusinessnews.net: https://www.foodbusinessnews.net/articles/20546-us-soybean-oil-though-pricy-not-running-out

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