Large biodiesel imports cut into domestic soybean oil demand

Recently released import data shows that strong import activity during 2015 is taking a bite out of domestic soybean oil demand. Renewable diesel imports are up 36% for the year and data is only available through October at this point. Renewable diesel imports totaled a whopping 25.2 million gallons in October, bringing the 2015 yearly total to 163,548,000 million gallons. This is 42.9 million gallons more…