# Rise of biodiesel leads to jump in cooking oil prices, skyrocketing demand for soybeans | Here & Now

> NPR reports that major oil companies are converting refineries to produce renewable diesel from soybean oil or beef tallow. The shift is raising cooking oil prices and encouraging farmers to plant more soybeans.

- Date: 2021-11-03 · published 2021-11-03T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/44128-rise-of-biodiesel-leads-to-jump-in-cooking-oil-prices-skyrocketing-demand-for
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Renewable diesel conversions add structural demand for soyoil and tallow, supporting soybean and vegetable oil prices and pulling acreage toward soybeans.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-06-09 | [Will Biodiesel Demand Lead to a Paradigm Shift in Soybean Oil? \| news.cqg.com](https://feedsoft.ai/events/46442-will-biodiesel-demand-lead-to-a-paradigm-shift-in-soybean-oil-news-cqg-com.md) | -8.6% | -13.5% |
| SBO | 2021-03-15 | [Biodiesel Boosts Demand for Iowa Soybeans \| Iowa Soybean](https://feedsoft.ai/events/48002-biodiesel-boosts-demand-for-iowa-soybeans-iowa-soybean.md) | +0.0% | -0.5% |
| SBO | 2025-06-13 | [EPA's RFS Proposal on Biodiesel Sparks Jump in Soybean Futures Prices](https://feedsoft.ai/events/24298-epa-s-rfs-proposal-on-biodiesel-sparks-jump-in-soybean-futures-prices.md) | +10.1% | +8.6% |
| SBO | 2018-07-24 | [France's Avril Raises Biodiesel Output On Higher Oil Prices, Demand](https://feedsoft.ai/events/64125-france-s-avril-raises-biodiesel-output-on-higher-oil-prices-demand.md) | +1.2% | +2.0% |
| SBO | 2022-11-10 | [CHS sees 'bullish' demand in soybean oil, citing renewable diesel](https://feedsoft.ai/events/38751-chs-sees-bullish-demand-in-soybean-oil-citing-renewable-diesel.md) | -1.8% | -13.0% |
| SOY | 2021-03-15 | [Biodiesel Boosts Demand for Iowa Soybeans \| Iowa Soybean](https://feedsoft.ai/events/48002-biodiesel-boosts-demand-for-iowa-soybeans-iowa-soybean.md) | +0.0% | -2.4% |
| SOY | 2025-06-13 | [EPA's RFS Proposal on Biodiesel Sparks Jump in Soybean Futures Prices](https://feedsoft.ai/events/24298-epa-s-rfs-proposal-on-biodiesel-sparks-jump-in-soybean-futures-prices.md) | +2.5% | -4.3% |
| SOY | 2019-03-06 | [768 million pounds of soybean oil went to biodiesel in December - McKeany-Flavell](https://feedsoft.ai/events/60179-768-million-pounds-of-soybean-oil-went-to-biodiesel-in-december-mckeany-flavell.md) | -1.8% | -0.1% |

## Sources

- wbur.org: https://www.wbur.org/hereandnow/2021/11/03/biodiesel-oil-soybeans

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