# New Study Finds COVID-19 Pandemic Has $4.7 Billion Impact on the Soybean Industry | United Soybean Board

> A study commissioned by NOPA and the United Soybean Board estimates COVID-19 caused over $4.7 billion in losses to US soybean farmers and crushers from January to June 2020. Soybean oil lost $1.5 billion in value (down 17.5%) and soybean meal lost $220 million (down 1.4%).

- Date: 2020-08-11 · published 2020-08-11T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/51686-new-study-finds-covid-19-pandemic-has-4-7-billion-impact-on-the-soybean
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The study quantifies pandemic-driven demand losses in biofuel and livestock channels, a backward-looking assessment that offers little new price direction for feed buyers.

## Read by commodity

- SBM: neutral
- SBO: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2020-03-09 | [The Pace of Soybean Use \|
         Ag Notes \| 
        Illinois Public Media](https://feedsoft.ai/events/54227-the-pace-of-soybean-use-ag-notes-illinois-public-media.md) | -8.3% | -7.2% |
| SBO | 2023-12-23 | [CoBank predicts solid 2024 For US biofuels industry  : The Daily Digest](https://feedsoft.ai/events/32677-cobank-predicts-solid-2024-for-us-biofuels-industry-the-daily-digest.md) | -1.2% | -2.4% |
| SBO | 2019-03-11 | [How competitive is biofuel production in Brazil and the United States? – Analysis - IEA](https://feedsoft.ai/events/59974-how-competitive-is-biofuel-production-in-brazil-and-the-united-states-analysis.md) | +0.1% | -0.8% |
| SBO | 2019-01-08 | [The exports of Argentine soybean complex would account for about US$ 18,050 million in 2018/19 \| Bolsa de Comercio de Rosario](https://feedsoft.ai/events/60937-the-exports-of-argentine-soybean-complex-would-account-for-about-us-18-050.md) | -0.5% | +7.5% |
| SBO | 2024-06-13 | [Three Things Currently Impacting The Soybean Market](https://feedsoft.ai/events/29785-three-things-currently-impacting-the-soybean-market.md) | +0.6% | +9.8% |
| SBM | 2019-01-01 | [Tracking the Pace of Soybean Consumption](https://feedsoft.ai/events/61195-tracking-the-pace-of-soybean-consumption.md) | +3.7% | +1.6% |
| SBM | 2020-03-09 | [The Pace of Soybean Use \|
         Ag Notes \| 
        Illinois Public Media](https://feedsoft.ai/events/54227-the-pace-of-soybean-use-ag-notes-illinois-public-media.md) | -1.8% | +0.6% |
| SBM | 2025-09-30 | [Corn Falls on Bearish Report, Is $4 in the Cards? Soybeans Make Fresh Lows - AgWeb](https://feedsoft.ai/events/9839-corn-falls-on-bearish-report-is-4-in-the-cards-soybeans-make-fresh-lows-agweb.md) | +0.7% | +12.8% |

## Sources

- unitedsoybean.org: https://unitedsoybean.org/hopper/new-study-finds-covid-19-pandemic-has-47-billion-impact-on-the-soybean-industry/

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