# High demand boosts soy oil prices in Brazil - Center for Advanced Studies on Applied Economics

> Cepea reports Brazilian soy oil prices hit new nominal records in October 2021, with the monthly average up 9.7% from September. Soy oil feeds about 70% of Brazil's biodiesel, and the industry's demand has overtaken feed-industry use, limiting soybean price declines.

- Date: 2021-11-03 · published 2021-11-03T12:00:00.000Z
- Category: market · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/44131-high-demand-boosts-soy-oil-prices-in-brazil-center-for-advanced-studies-on
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Strong Brazilian soyoil demand from biodiesel supports crush margins and soybean prices, while also reducing the availability of soy oil for feed use.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- USDBRL: neutral

## Sources

- cepea.org.br: https://cepea.org.br/en/brazilian-agribusiness-news/high-demand-boosts-soy-oil-prices-in-brazil.aspx?pagina=2

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