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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05.13.2024
US glycerin prices mostly steady amid increasing biodiesel production
Glycerin prices in the US were steady to slightly lower on Monday May 13. US biodiesel production has been increasing, boosting the supply of glycerin — a co-product of...
05.13.2024
Weekly cattle slaughter forecast to remain below 2023 levels into June
US cattle slaughter
Fastmarkets research team forecast cattle slaughter at 630,000 head in the week to Saturday May 18, down by 1.61% compared with the same period in 2023.
05.13.2024
Six-week hog slaughter forecast to be flat or up from 2023
US hog slaughter
Fastmarkets research team forecast hog slaughter at 2.425 million head in the week to Saturday May 18, up by 0.75% from the same period in 2023.