# Record soybean oil use for biodiesel in May - McKeany-Flavell

> US biodiesel output reached 147 million gallons in May, up 2% from April but down 5% from May 2019. Soybean oil use in biodiesel hit a record 778 million pounds, rising 16% from April and reaching 70% of feedstock use.

- Date: 2020-08-04 · published 2020-08-04T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/51685-record-soybean-oil-use-for-biodiesel-in-may-mckeany-flavell
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Record soyoil use for biodiesel tightens domestic soyoil supply and supports soybean oil prices, as other feedstocks such as yellow grease and distillers corn oil were constrained.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 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) | +0.2% | -2.6% |
| SBO | 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) | +0.9% | +5.0% |
| SBO | 2019-01-29 | [Biodiesel Market in EU Opens for U.S. Soybeans - American Soybean Association](https://feedsoft.ai/events/61201-biodiesel-market-in-eu-opens-for-u-s-soybeans-american-soybean-association.md) | -0.6% | -0.7% |
| 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 | 2022-05-23 | [Crude oil, Indonesian trade policy gyrations drive soybean oil prices - McKeany-Flavell](https://feedsoft.ai/events/41479-crude-oil-indonesian-trade-policy-gyrations-drive-soybean-oil-prices-mckeany.md) | -1.6% | -9.5% |
| SBM | 2021-08-30 | [Biofuel rumors loom over soybean market - McKeany-Flavell](https://feedsoft.ai/events/45593-biofuel-rumors-loom-over-soybean-market-mckeany-flavell.md) | -3.1% | -2.9% |
| SBM | 2022-05-23 | [Crude oil, Indonesian trade policy gyrations drive soybean oil prices - McKeany-Flavell](https://feedsoft.ai/events/41479-crude-oil-indonesian-trade-policy-gyrations-drive-soybean-oil-prices-mckeany.md) | +1.0% | +1.5% |
| SBM | 2026-06-30 | [Biodiesel boom drives soybean oil to 4-year high](https://feedsoft.ai/events/18887-biodiesel-boom-drives-soybean-oil-to-4-year-high.md) | +3.7% | +4.4% |

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/record-soybean-oil-use-for-biodiesel-in-may-08-04-20/

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