**Please Note – Bob Lane was out of the office today and will return on December 23.**
ADM, Marathon Petroleum Close on Soybeanbean Oil Feedstock Venture
ADM and Marathon Petroleum Corp. recently closed on their previously announced joint venture to produce soybean oil to meet the fast-growing demand for renewable diesel. The joint venture, which will be known as Green Bison Soy Processing LLC, will own and operate a soybean processing complex in Spiritwood, North Dakota. ADM will own 75 percent of the venture, while Marathon Petroleum will own 25 percent.
Demand for renewable diesel in the U.S. is expected to exponentially grow in the coming years. Scheduled for completion in 2023, the $350-million Spiritwood facility will source and process local soybeans and supply the resulting soybean oil exclusively to Marathon Petroleum. Spiritwood will produce about 600 million pounds of refined soybean oil each year, enough feedstock…
05.14.2024
LCFS credit trading volumes, prices decline on week
California Low Carbon Fuel Standard (LCFS) credit volumes declined sharply while the average credit price moved lower in the week ended Sunday May 12, according to the figures released...
05.14.2024
Animal fats prices steady on the week; Weekly average DCO 36.89% under three year average
Animal fats prices were flat on Tuesday May 14, with limited trade volume reported. Several participants indicated doing trade ahead of the current week due to the Fastmarket’s Biofuels...
05.14.2024
Dog, cat food exports for Q1 2024 drop in price, volume year on year
Animal proteins prices were steady to lower on Tuesday May 14, with limited trade volume reported. Several participants indicated doing trade ahead of the current week due to the...