# US soybean oil futures spike on bullish WASDE ahead of 45Z guidance - The Jacobsen

> Soybean oil futures rallied more than 6% on Friday January 10, with the March contract settling at $0.4558 per lb, its highest settlement in two months. The move followed a weaker dollar, firmer energy prices, and the USDA's January WASDE, which raised 2024/25 US soybean oil production and exports for a second month. Partial 45Z tax credit guidance was also anticipated.

- Date: 2025-01-10 · published 2025-01-10T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/8101-us-soybean-oil-futures-spike-on-bullish-wasde-ahead-of-45z-guidance-the-jacobsen
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A larger export forecast combined with a smaller biofuel allocation tightens domestic supply, supporting soybean oil prices and feedstock demand for meal and oil buyers.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2020-11-13 | [USDA Leaves Soybean Oil Use in Biodiesel Production Unchanged - The Jacobsen](https://feedsoft.ai/events/50022-usda-leaves-soybean-oil-use-in-biodiesel-production-unchanged-the-jacobsen.md) | +4.8% | +6.8% |
| SBO | 2020-05-01 | [Soybean Crush Report - The Jacobsen](https://feedsoft.ai/events/53216-soybean-crush-report-the-jacobsen.md) | -1.1% | +4.4% |
| SBO | 2024-09-30 | [Central Illinois soybean, soymeal prices hit 1-month high: USDA - The Jacobsen](https://feedsoft.ai/events/28380-central-illinois-soybean-soymeal-prices-hit-1-month-high-usda-the-jacobsen.md) | +0.5% | +2.2% |
| SBO | 2021-02-04 | [WASDE forecasts rise in use of soyabean oil in biodiesel](https://feedsoft.ai/events/48508-wasde-forecasts-rise-in-use-of-soyabean-oil-in-biodiesel.md) | +1.9% | +10.1% |
| SBO | 2021-05-18 | [May 2021 WASDE: Soybeans are Taking the Lead - U.S. Soybean Export Council](https://feedsoft.ai/events/47180-may-2021-wasde-soybeans-are-taking-the-lead-u-s-soybean-export-council.md) | -2.4% | -7.5% |
| SOY | 2018-06-12 | [Futures rally on bullish corn, soybean data](https://feedsoft.ai/events/64480-futures-rally-on-bullish-corn-soybean-data.md) | -4.7% | -10.6% |
| SOY | 2017-10-12 | [Soybeans surge on bullish WASDE updates \| Feedstuffs](https://feedsoft.ai/events/68417-soybeans-surge-on-bullish-wasde-updates-feedstuffs.md) | +2.0% | +2.4% |
| SOY | 2023-10-12 | [Soybeans jump higher on bullish WASDE data](https://feedsoft.ai/events/33589-soybeans-jump-higher-on-bullish-wasde-data.md) | +4.7% | +7.7% |

## Sources

- thejacobsen.com: https://thejacobsen.com/2025/01/10/us-soybean-oil-futures-spike-on-bullish-wasde-ahead-of-45z-guidance/

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