# Soybean Oil Futures Slide

> March soybean oil fell to 46.53 cents per pound on January 25, 2024, its lowest trade since May 31, 2023, after breaking its January low. Technical indicators and a weakening March/May spread point to continued bearish sentiment. Traders cited reduced domestic demand from renewable diesel plants.

- Date: 2024-01-25 · published 2024-01-25T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6838-soybean-oil-futures-slide
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Softer soyoil prices reflect weaker biofuel and food demand, which lowers the value of crushing and can pressure soymeal supply economics. Technical breakdown suggests further downside if key support fails.

## Read by commodity

- SBO: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2024-01-29 | 1 | -4.5% | -4.7 | Soyoil broke to its lowest level since May 2023 on Jan 25 amid weak renewable diesel demand, a technical and demand setup that likely fed the follow-through selling on Jan 29. |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/canada-markets/blog-post/2024/01/25/soybean-oil-futures-slide

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