# Soybean oil rally screeches to a halt

> Soybean oil futures fell sharply on June 14, 2021, after a record run, as traders reacted to reports that the Biden administration was discussing possible relaxation of Renewable Fuels Standard mandates for refiners. Corn and soybeans also fell on rains forecast for dry parts of the Midwest. The RFS changes were not confirmed.

- Date: 2021-06-15 · published 2021-06-15T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/6437-soybean-oil-rally-screeches-to-a-halt
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Possible cuts to biofuel blending mandates would reduce demand for soybean oil as biodiesel feedstock, pressuring soy oil and the soy complex. Weather-driven rain forecasts added to the downside for corn and soybeans.

## Read by commodity

- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-06-16 | 5 | -11.4% | -4.5 | Soyoil dropped sharply on June 14 after reports the Biden administration was discussing relaxing RFS mandates, a sentiment and demand shock after a record run. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-06-18 | [Soybean Oil Has a Bearish Week](https://feedsoft.ai/events/46688-soybean-oil-has-a-bearish-week.md) | +0.5% | +4.0% |
| SBO | 2025-05-15 | [Soybean, Soyoil futures slide; Wheat, Corn Rally \| The Brock Report](https://feedsoft.ai/events/24781-soybean-soyoil-futures-slide-wheat-corn-rally-the-brock-report.md) | -0.8% | -4.5% |
| SBO | 2023-03-24 | [Soybean Oil Prices in South America Hit Two-Year Low](https://feedsoft.ai/events/36961-soybean-oil-prices-in-south-america-hit-two-year-low.md) | -0.6% | -2.6% |
| SBO | 2017-06-01 | [Anti-dumping taxes fear for soybean oil prices](https://feedsoft.ai/events/70581-anti-dumping-taxes-fear-for-soybean-oil-prices.md) | +0.1% | +2.5% |
| SBO | 2022-02-23 | [China to release soybeans, soy oil from central reserves to boost supplies](https://feedsoft.ai/events/8762-china-to-release-soybeans-soy-oil-from-central-reserves-to-boost-supplies.md) | +3.8% | -0.7% |
| CORN | 2021-04-21 | [China Seeking Alternatives to Corn and Soybean Meal \| Red River Farm Network](https://feedsoft.ai/events/47709-china-seeking-alternatives-to-corn-and-soybean-meal-red-river-farm-network.md) | +14.7% | +11.9% |
| CORN | 2026-05-26 | [Argentina to Gradually Reduce Soy, Corn Taxes in Coming Years](https://feedsoft.ai/events/13795-argentina-to-gradually-reduce-soy-corn-taxes-in-coming-years.md) | -2.5% | -8.6% |
| CORN | 2021-08-20 | [Biden may reduce biofuel quotas, handing a win to oil-state Democrats](https://feedsoft.ai/events/45441-biden-may-reduce-biofuel-quotas-handing-a-win-to-oil-state-democrats.md) | +0.4% | -6.4% |

## Sources

- farmprogress.com: https://www.farmprogress.com/soybean/soybean-oil-rally-screeches-to-a-halt

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