# Soybeans firm as US biodiesel data lifts soyoil; corn flat - Markets - Business Recorder

> US soybean futures rose for a second session as soyoil gained over 1% on biodiesel demand. EIA data showed soyoil used for biodiesel in May rose to 778 million pounds from 672 million in April, while corn was little changed on benign Midwest weather.

- Date: 2020-07-31 · published 2020-07-31T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/51967-soybeans-firm-as-us-biodiesel-data-lifts-soyoil-corn-flat-markets-business
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Strong biodiesel use supports soyoil prices and may lead USDA to raise its soyoil-for-biofuel estimate, supporting soybean values.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2020-06-12 | [US soy crush seen at 173.071mn bushels - Markets - Business Recorder](https://feedsoft.ai/events/52699-us-soy-crush-seen-at-173-071mn-bushels-markets-business-recorder.md) | +2.0% | +2.2% |
| SBO | 2021-04-08 | [USDA to expand forecasts on soyoil use in biofuels in May crop report - Markets - Business Recorder](https://feedsoft.ai/events/47668-usda-to-expand-forecasts-on-soyoil-use-in-biofuels-in-may-crop-report-markets.md) | +0.2% | +17.0% |
| SBO | 2020-08-12 | [Palm oil reverses early losses - Markets - Business Recorder](https://feedsoft.ai/events/51736-palm-oil-reverses-early-losses-markets-business-recorder.md) | +1.7% | +6.9% |
| SBO | 2026-08-03 | [US soybean oil use for biofuels production hits record high in May - Fastmarkets](https://feedsoft.ai/events/14999-us-soybean-oil-use-for-biofuels-production-hits-record-high-in-may-fastmarkets.md) | +2.6% | -0.7% |
| SBO | 2023-07-03 | [Palm oil ends more than 5pc higher on supply worries - Markets - Business Recorder](https://feedsoft.ai/events/6544-palm-oil-ends-more-than-5pc-higher-on-supply-worries-markets-business-recorder.md) | +6.2% | +2.3% |
| SOY | 2020-06-12 | [US soy crush seen at 173.071mn bushels - Markets - Business Recorder](https://feedsoft.ai/events/52699-us-soy-crush-seen-at-173-071mn-bushels-markets-business-recorder.md) | +0.8% | +2.9% |
| SOY | 2020-06-30 | [CBOT corn futures climb - Markets - Business Recorder](https://feedsoft.ai/events/12775-cbot-corn-futures-climb-markets-business-recorder.md) | +3.3% | +3.5% |
| SOY | 2021-02-22 | [USDA supply outlook pushes soybeans to second session of gains - Markets - Business Recorder](https://feedsoft.ai/events/48687-usda-supply-outlook-pushes-soybeans-to-second-session-of-gains-markets-business.md) | +2.0% | +2.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40009255

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