The USDA’s World Agriculture Supply and Demand Estimate (WASDE)

Information released today pertaining to soybean oil, reflected the ramped up expectations for biodiesel production for the 2017 calendar year.  Expected soybean oil consumption by the biodiesel industry was increased by 250 million pounds.  The USDA now expects that the US biodiesel industry will consume 6.2 billion pounds of soybean oil during the September through August fiscal year. The…