# Almost Big Breaking News for Corn and Soybean Prices

> DTN analyst Todd Hultman discusses the Sustainable Aviation Fuel tax credit, which the Treasury Department was set to define, and its potential to add biofuel demand. He also notes USDA projects a 2024-25 U.S. corn surplus of 2.53 billion bushels, the largest since 1987-88.

- Date: 2024-03-02 · published 2024-03-02T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/7864-almost-big-breaking-news-for-corn-and-soybean-prices
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

New biofuel demand could absorb surplus corn and soybean supply, supporting prices, but the projected large 2024-25 surplus remains bearish for feed grain values.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-04-29 | [Correction continues for corn, soybeans, wheat - Brownfield Ag News](https://feedsoft.ai/events/7705-correction-continues-for-corn-soybeans-wheat-brownfield-ag-news.md) | +5.9% | -6.0% |
| CORN | 2016-11-25 | [EPA Ruling Will Boost Corn and Soybean Demand \| Hoosier Ag Today](https://feedsoft.ai/events/73746-epa-ruling-will-boost-corn-and-soybean-demand-hoosier-ag-today.md) | -4.6% | -1.4% |
| CORN | 2018-06-26 | [Soybeans continue lower trend - Brownfield Ag News](https://feedsoft.ai/events/8586-soybeans-continue-lower-trend-brownfield-ag-news.md) | -2.3% | -3.5% |
| CORN | 2019-11-28 | [AgroPages-Argentine farmers switching some intended corn to soybeans-Agricultural news](https://feedsoft.ai/events/55876-agropages-argentine-farmers-switching-some-intended-corn-to-soybeans.md) | +1.1% | +3.4% |
| CORN | 2022-06-30 | [EIA: Ethanol and Biomass-based Diesel Prices - Fuels Market News](https://feedsoft.ai/events/15389-eia-ethanol-and-biomass-based-diesel-prices-fuels-market-news.md) | +1.0% | -16.7% |
| SOY | 2025-06-13 | [Soybeans and Bean Oil Surge on RVO News: How High Will Prices Run?](https://feedsoft.ai/events/5340-soybeans-and-bean-oil-surge-on-rvo-news-how-high-will-prices-run.md) | +2.5% | -4.3% |
| SOY | 2021-04-29 | [Correction continues for corn, soybeans, wheat - Brownfield Ag News](https://feedsoft.ai/events/7705-correction-continues-for-corn-soybeans-wheat-brownfield-ag-news.md) | +1.6% | -3.5% |
| SOY | 2025-06-13 | [How Bullish are EPA’s Blending Mandates for Soybean Prices?](https://feedsoft.ai/events/15112-how-bullish-are-epa-s-blending-mandates-for-soybean-prices.md) | +2.5% | -4.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/article/2024/03/01/almost-big-breaking-news-corn-prices

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