# USDA sees little renewable diesel benefit for soybean oil | Farmtario

> The USDA forecasts that soybean oil demand from the renewable fuel sector will stay flat at about 12 billion pounds a year after 2022. Analysts, including LMC's James Fry, see this as an outlier, since renewable diesel demand is projected to reach nearly 30 billion pounds by 2030.

- Date: 2022-01-20 · published 2022-01-20T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/43241-usda-sees-little-renewable-diesel-benefit-for-soybean-oil-farmtario
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

If the USDA forecast is right, soybean oil demand growth would stall after 2022, which would weigh on longer-term prices. Analysts doubt it, so the outlook remains uncertain.

## Read by commodity

- SBO: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-02-09 | [USDA maintains forecast for 2021-'22 soybean oil use in biofuel  \| Biodiesel Magazine](https://feedsoft.ai/events/15417-usda-maintains-forecast-for-2021-22-soybean-oil-use-in-biofuel-biodiesel.md) | -0.1% | +13.2% |
| SBO | 2023-08-11 | [USDA maintains forecast for 2023-'24 soybean oil use in biofuel \| Biodiesel Magazine](https://feedsoft.ai/events/15284-usda-maintains-forecast-for-2023-24-soybean-oil-use-in-biofuel-biodiesel.md) | +0.7% | -6.4% |
| SBO | 2023-04-11 | [USDA maintains forecast for soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/36472-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-biodiesel.md) | +0.5% | -2.5% |
| SBO | 2022-10-12 | [USDA maintains forecast for soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15365-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-production-biodiesel.md) | +0.8% | +8.6% |
| SBO | 2020-12-10 | [WASDE maintains outlook for soybean oil use in biodiesel  \| Biodiesel Magazine](https://feedsoft.ai/events/49518-wasde-maintains-outlook-for-soybean-oil-use-in-biodiesel-biodiesel-magazine.md) | +0.7% | +12.3% |

## Sources

- farmtario.com: https://farmtario.com/markets-business/markets/usda-sees-little-renewable-diesel-benefit-for-soybean-oil/

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