Cold, Winter Weather Impact January Soybean Crush
**Bob Lane was out of the office today and will return on Monday, March 4, 2024.**
U.S. soybean crushing volumes totaled 195 million bushels in January, the USDA reported on...
Stronger than expected December domestic renewable diesel (RD) production may be having an impact on several areas within the biofuel sector. Recently released EPA EMTS blending data for December, showed domestic RD blending increased to 459 million gallons, 33 percent above November, and 81 percent higher than in December 2022.
December domestic RD production was at an all-time high and will likely climb higher as the Rodeo Renewed refinery moves to become fully operational during the second quarter and there are reports that plants that were down are ramping back up for production, or have already restarted.
Increased capacity and strong biomass-based diesel production may have the market contemplating RINs as overvalued. RIN prices have fallen sharply over the past couple of days and could be headed lower without a strong need to incentivize production.