# Soybeans, soybean oil bound higher after EPA raises biofuel targets: Podcast

> Soybean futures rose Wednesday for a fifth straight session to their highest since August, led by a surge in soybean oil after EPA raised its biofuel use targets for 2017. Ethanol spiked briefly but gave back gains by midday, and wheat fell on forecasts of rain in the dry Southeast.

- Date: 2016-11-23 · published 2016-11-23T12:00:00.000Z
- Category: policy · region US · magnitude high
- Page: https://feedsoft.ai/events/6690-soybeans-soybean-oil-bound-higher-after-epa-raises-biofuel-targets-podcast
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The EPA biofuel volume increase boosts demand for soybean oil in biodiesel, supporting soybean and soyoil prices. Corn's reaction was muted, so the ethanol-driven corn demand effect looks limited.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: neutral
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-06-26 | [EPA Biofuel Rule Boosts Soybean Oil Demand Through Higher Renewable Fuel Blending Mandates](https://feedsoft.ai/events/15018-epa-biofuel-rule-boosts-soybean-oil-demand-through-higher-renewable-fuel.md) | +0.4% | +10.7% |
| SOY | 2016-11-24 | [Soybean oil futures rose by 7% due to high biofuel](https://feedsoft.ai/events/6691-soybean-oil-futures-rose-by-7-due-to-high-biofuel.md) | -0.4% | -3.8% |
| SOY | 2026-09-02 | [CBOT soybean oil rises 7.2% as EPA reallocation shifts biofuel outlook \| S&P Global](https://feedsoft.ai/events/14992-cbot-soybean-oil-rises-7-2-as-epa-reallocation-shifts-biofuel-outlook-s-and-p.md) | -0.9% | -1.1% |
| SOY | 2026-05-27 | [Biofuels give boost to soybean oil futures rally \| World Grain](https://feedsoft.ai/events/19353-biofuels-give-boost-to-soybean-oil-futures-rally-world-grain.md) | -1.7% | -6.5% |
| SOY | 2024-01-22 | [Soybean Oil Rises With More US Demand Forecast for Biofuels - Bloomberg](https://feedsoft.ai/events/32190-soybean-oil-rises-with-more-us-demand-forecast-for-biofuels-bloomberg.md) | -0.3% | -3.4% |
| SBO | 2026-06-26 | [EPA Biofuel Rule Boosts Soybean Oil Demand Through Higher Renewable Fuel Blending Mandates](https://feedsoft.ai/events/15018-epa-biofuel-rule-boosts-soybean-oil-demand-through-higher-renewable-fuel.md) | -2.8% | +5.7% |
| SBO | 2016-11-24 | [Soybean oil futures rose by 7% due to high biofuel](https://feedsoft.ai/events/6691-soybean-oil-futures-rose-by-7-due-to-high-biofuel.md) | +2.1% | -5.6% |
| SBO | 2016-11-23 | [Big Corn beats Big Oil as U.S. hikes 2017 biofuel targets \| Reuters](https://feedsoft.ai/events/73745-big-corn-beats-big-oil-as-u-s-hikes-2017-biofuel-targets-reuters.md) | +6.7% | +4.5% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/grain-market-news/soybeans-soybean-oil-bound-higher-after-epa-raises-biofuel-targets-podcast

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