# Next-Gen Fuels at a Crossroads: Second Edition - AHEAD OF THE CURVE© | TD Securities

> TD Securities forecasts that weakness in the biomass-based distillate market, which hit multi-year margin lows in 3Q24, will persist through 2025 and 2026. Vegetable oil-based renewable diesel margins are expected to weaken, while waste oil-based renewable diesel and sustainable aviation fuel could improve. The outlook depends on whether 45Z allows international feedstocks.

- Date: 2024-10-22 · published 2024-10-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/15179-next-gen-fuels-at-a-crossroads-second-edition-ahead-of-the-curve-td-securities
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected oversupply and weak margins for vegetable oil-based biofuel point to lower soyoil demand from that sector, which is bearish for soyoil over the forecast period.

## Read by commodity

- SBO: bearish ▼

## Sources

- tdsecurities.com: https://www.tdsecurities.com/ca/en/next-gen-fuels-crossroads-second-edition

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.