# Chevron to invest in Bunge soybean crushers to secure renewable feedstock

> Chevron and Bunge will explore low-carbon feedstocks and pretreatment options for renewable fuel production. Soybean oil prices have more than doubled in the past year, which has hampered some refiners' plans, and soybean oil is less lucrative than used cooking oil and animal tallow.

- Date: 2021-09-02 · published 2021-09-02T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/45152-chevron-to-invest-in-bunge-soybean-crushers-to-secure-renewable-feedstock
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Refiners' search for cheaper, lower-carbon feedstocks could reduce future soybean oil demand from fuel, but in the near term high soybean oil prices reflect strong competition for the oil.

## Read by commodity

- SBO: neutral
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-06-26 | [Renewable diesel boom creates surge in feedstock imports \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/15210-renewable-diesel-boom-creates-surge-in-feedstock-imports-agri-pulse.md) | +4.0% | +6.9% |
| SBO | 2021-01-27 | [U.S. soybean crushers buy up extra beans as supply scramble looms \| Financial Post](https://feedsoft.ai/events/49223-u-s-soybean-crushers-buy-up-extra-beans-as-supply-scramble-looms-financial-post.md) | +3.8% | +13.1% |
| SBO | 2026-07-27 | [Strong export demand & renewed buying interest outweigh favorable U.S. soybean crop conditions - McKeany-Flavell](https://feedsoft.ai/events/8280-strong-export-demand-and-renewed-buying-interest-outweigh-favorable-u-s-soybean.md) | -7.3% | -3.3% |
| SBO | 2017-10-16 | [Palm oil demand strong as top buyers China, India restock inventories \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/68563-palm-oil-demand-strong-as-top-buyers-china-india-restock-inventories-commodity.md) | +2.0% | +3.9% |
| SBO | 2020-08-07 | [Countries likely to restock CPO amidst fear of second wave \| Borneo Post Online](https://feedsoft.ai/events/51470-countries-likely-to-restock-cpo-amidst-fear-of-second-wave-borneo-post-online.md) | +0.3% | +6.2% |
| SOY | 2024-05-16 | [Rising US soybean crush set to face off with Argentine supplies into 2025](https://feedsoft.ai/events/13926-rising-us-soybean-crush-set-to-face-off-with-argentine-supplies-into-2025.md) | +2.7% | -2.0% |
| SOY | 2024-08-29 | [To Crush or Not to Crush? - U.S. Soybean Export Council](https://feedsoft.ai/events/28887-to-crush-or-not-to-crush-u-s-soybean-export-council.md) | +5.2% | +8.6% |
| SOY | 2026-09-07 | [Ahead of Xi's US visit, China's soybean crushers face high costs, weak margins \| Reuters](https://feedsoft.ai/events/17463-ahead-of-xi-s-us-visit-china-s-soybean-crushers-face-high-costs-weak-margins.md) | -0.7% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/chevron-invest-bunge-soybean-crushers-secure-renewable-feedstock-2021-09-02/

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