# Soybean oil prices crash under energy market tidal wave - McKeany-Flavell

> Soybean oil futures fell sharply in the week to April 24 as nearby crude oil collapsed, with the May WTI contract dropping to -$37 per barrel. Soybean oil pushed toward $0.25 per pound, below recent support near $0.26.

- Date: 2020-04-27 · published 2020-04-27T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/53732-soybean-oil-prices-crash-under-energy-market-tidal-wave-mckeany-flavell
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Lower crude weakens the biodiesel margin that supports soybean oil demand, so reduced biodiesel usage could build soyoil stocks toward roughly 2.0 billion pounds and keep pressure on prices and basis.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/united-states-monthly-crude-soybean-oil-stocks-04-27-20/

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