The ongoing expansion of US soybean processing capacity and a protracted downturn in crush margins could “threaten the viability of new high-cost crush plants” in the coming years, a recent report from CoBank’s Knowledge Exchange said.
In the last three years, soybean oil has been the most widely used feedstock in the production of renewable diesel. Demand for renewable diesel has surged due to state and federal tax credits and incentives. Soybean crush capacity has risen 7% in the last three years and is anticipated to increase 23% in the next three years to meet the growing demand for renewable diesel. Renewable diesel output is projected to increase 83% in the next five years. If all projects come online as planned, US renewable diesel production capacity could reach 5.96 billion gallons by the end of 2025.
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07.26.2024
US Court of Appeals sends SRE decision back to EPA; soyoil prices tumble on potentially lower biofuel demand
On Friday July 26, the US Court of Appeals vacated at least some of the blanket small refinery exemption (SRE) denials made by the Environmental Protection Agency (EPA) in...
07.26.2024
Animal fats and oils trade freezes following soybean oil market drop on SRE report
Trading in the animal fats and oils market was quiet on Friday July 26; the California yellow grease market the only one to rise, with prices up to 31-32...
07.26.2024
Porcine bloodmeal, Missouri River, moves higher week on week; June commercial cattle, hog slaughter
US animal protein prices were highly mixed in the week to Friday July 26, with limited trade on both Thursday July 25 and on Friday. Porcine bloodmeal was the...