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A Taiwanese market commentary says high fossil fuel prices are lifting biofuel demand for soybeans. The USDA projects 2026/27 US biofuel soybean oil use of 17.8 billion pounds, up about 20%.
Serasa estimates Brazil's 2026/27 soybean crop could fall about 10% due to a strong El Niño, and Brazil's B16 mandate is expected to lift crushing to a record 66 million tonnes in 2027.
Strong biofuel demand plus a possible Brazilian crop shortfall tightens soybean and soybean oil supplies, supporting prices, while expected Brazilian crush growth adds meal supply.
money.udn.comNov 3, 2026After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.
After 184 past bullish weather events, Soybean Oil moved a median +0.3% over 5 sessions (53% higher; middle half -1.9% to +2.4%), and -0.5% over 20.
After 55 past neutral weather events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
