USDA Forecasts Biodiesel Industry to use 6.2 billion pounds of Soybean Oil in 2016/17 Crop Year

Is this forecast too low? Given the domestic biodiesel production in 2016 and the higher mandated amounts for both biodiesel production and advanced biofuels production for 2017, the USDA’s forecast is likely very conservative.

In 2016, biodiesel and renewable diesel production will likely total somewhere around 2.5 billion gallons.  Imported biodiesel and…