Jan 10, 2022

Renewable Diesel to Create Surge in Soybean Demand

New capacity for renewable diesel production could skyrocket to 5.97 billion gallons by 2024

Soybean growers could see demand growth from the biofuels sector in the next decade, reminiscent of the ethanol boom that shifted into high gear in the early 2000s and pushed corn use to new heights, reports The Telegraph.

The key product set to take off is renewable diesel, not to be confused with biodiesel.

Both fuels use any oil or fat, mostly soybean oil, as feedstock. But the processing for each product differs, with renewable diesel generated from more high free fatty acid feedstocks, which produce better carbon intensity scores.

With proposed plants all over the U.S., particularly along the Southern coast and Pacific Northwest, potential new capacity for renewable diesel production could skyrocket to 5.97 billion gallons by 2024.

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Marketwatch: Jan, 25

US Corn Price Idx: ZCPAUS.CM

open: 5.9845
high: 6.0765
low: 5.9569
close: 6.0712

US Soybean Price Idx: ZSPAUS.CM

open: 13.5198
high: 13.623
low: 13.3854
close: 13.5849

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 7.7845
high: 7.9894
low: 7.7694
close: 7.9771

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.4426
high: 7.6199
low: 7.4051
close: 7.6001