# WASDE forecasts rise in use of soyabean oil in biodiesel

> The USDA's January WASDE raised its 2020/21 forecast for soybean oil used in biodiesel to 8.2 billion pounds, up from 8.1 billion. The report cut the US soybean crop by 35 million bushels to 4.1 billion, but raised the export forecast to a record 2.2 billion bushels. Ending stocks were projected at 140 million bushels, down 35 million.

- Date: 2021-02-04 · published 2021-02-04T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/48508-wasde-forecasts-rise-in-use-of-soyabean-oil-in-biodiesel
- 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

Stronger biofuel demand for soybean oil and tighter US soybean ending stocks support soybean and soy oil prices. The higher crush forecast also shifts supply toward soybean meal.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-05-12 | [May WASDE forecasts 25% increase in soybean oil use in biofuel for 2026-‘27 \| Biodiesel Magazine](https://feedsoft.ai/events/15024-may-wasde-forecasts-25-increase-in-soybean-oil-use-in-biofuel-for-2026-27.md) | +1.4% | -2.2% |
| SBO | 2024-01-12 | [USDA boosts forecast for 2023-’24 soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15246-usda-boosts-forecast-for-2023-24-soybean-oil-use-in-biofuel-production.md) | -0.1% | -4.0% |
| SBO | 2023-08-22 | [Record use of soybean oil for biofuel in May - McKeany-Flavell](https://feedsoft.ai/events/34662-record-use-of-soybean-oil-for-biofuel-in-may-mckeany-flavell.md) | -1.1% | -8.2% |
| SBO | 2019-10-05 | [Soyabean oil comprises larger share of US biodiesel production](https://feedsoft.ai/events/56442-soyabean-oil-comprises-larger-share-of-us-biodiesel-production.md) | +0.1% | +4.2% |
| SBO | 2023-09-13 | [USDA  Maintains 2023-'24 Forecast for Soybean Oil Use in Biofuel - World-Energy](https://feedsoft.ai/events/15275-usda-maintains-2023-24-forecast-for-soybean-oil-use-in-biofuel-world-energy.md) | +0.3% | -9.3% |
| SOY | 2024-01-12 | [USDA boosts forecast for 2023-’24 soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/15246-usda-boosts-forecast-for-2023-24-soybean-oil-use-in-biofuel-production.md) | -1.5% | -3.9% |
| SOY | 2023-09-13 | [USDA  Maintains 2023-'24 Forecast for Soybean Oil Use in Biofuel - World-Energy](https://feedsoft.ai/events/15275-usda-maintains-2023-24-forecast-for-soybean-oil-use-in-biofuel-world-energy.md) | -1.2% | -4.5% |
| SOY | 2021-11-10 | [USDA maintains forecast for soybean oil use in biofuel 10.11.2021 - UkrAgroConsult](https://feedsoft.ai/events/15437-usda-maintains-forecast-for-soybean-oil-use-in-biofuel-10-11-2021-ukragroconsult.md) | +4.3% | +5.1% |

## Sources

- ofimagazine.com: https://www.ofimagazine.com/news/wasde-forecasts-rise-in-use-of-soyabean-oil-in-biodiesel

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