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US biofuel producers used 287 million fewer pounds of soybean oil in August 2026 than in July, according to EIA data released October 30. Renewable diesel plants accounted for 246 million pounds of that decline, while canola oil use rose 62 million pounds.
The three-oil feedstock subtotal for renewable diesel fell 17.1 percent.
Lower soybean oil use in renewable diesel reduces near-term demand for domestic soybean oil and weakens the feedstock balance. Partial substitution by canola oil limits the price impact.
fxnews.aiFXNews News DeskNov 3, 2026After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
