# Oil becoming new driver for soybean industry

> Renewable diesel expansion is raising demand for soybean oil and influencing how much soybean crushing takes place. China's late-September ban on phosphate fertilizer exports is also cited as raising fertilizer costs and shifting crop profitability for 2022.

- Date: 2021-10-12 · published 2021-10-12T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/44619-oil-becoming-new-driver-for-soybean-industry
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Growing biofuel demand for soyoil raises crush economics, which increases meal output, while high fertilizer costs may shift acreage toward soybeans and away from corn.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-03-02 | [Almost Big Breaking News for Corn and Soybean Prices](https://feedsoft.ai/events/7864-almost-big-breaking-news-for-corn-and-soybean-prices.md) | +5.1% | +2.0% |
| CORN | 2021-09-20 | [Big Farm Subsidies Surge Is Crisis-Driven, Industry Says](https://feedsoft.ai/events/45082-big-farm-subsidies-surge-is-crisis-driven-industry-says.md) | -4.3% | -4.1% |
| CORN | 2024-07-31 | [Brazil’s corn industry is discovering DDGS - Food & Agribusiness](https://feedsoft.ai/events/29366-brazil-s-corn-industry-is-discovering-ddgs-food-and-agribusiness.md) | -0.2% | -4.2% |
| CORN | 2019-03-28 | [New record for U.S. ethanol production and exports in 2018 and an update on Iowa’s ethanol industry](https://feedsoft.ai/events/60116-new-record-for-u-s-ethanol-production-and-exports-in-2018-and-an-update-on-iowa.md) | -2.6% | -4.6% |
| CORN | 2019-01-30 | [Ethanol industry is struggling - Brownfield Ag News](https://feedsoft.ai/events/61095-ethanol-industry-is-struggling-brownfield-ag-news.md) | +0.2% | -0.3% |
| SOY | 2022-01-04 | [Challenges persist but it is not all bad news for Argentina’s soybean crushing industry](https://feedsoft.ai/events/14058-challenges-persist-but-it-is-not-all-bad-news-for-argentina-s-soybean-crushing.md) | +2.3% | +13.7% |
| SOY | 2021-12-13 | [WASDE, EPA biofuel news drive soybean market - McKeany-Flavell](https://feedsoft.ai/events/9258-wasde-epa-biofuel-news-drive-soybean-market-mckeany-flavell.md) | +1.4% | +8.4% |
| SOY | 2026-09-23 | [Why are soybean oil futures stuck in neutral? \| World Grain](https://feedsoft.ai/events/17542-why-are-soybean-oil-futures-stuck-in-neutral-world-grain.md) | -2.1% | -5.8% |

## Sources

- farmprogress.com: https://www.farmprogress.com/soybean/oil-becoming-new-driver-for-soybean-industry

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