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EIA data show US operable biodiesel capacity fell 89 million gallons, or 4.3%, from January to February 2024. Renewable diesel capacity is still rising, with Phillips 66's Rodeo refinery expanding to 800 million gallons per year.
Biodiesel now accounts for 34% of total biomass-based capacity.
Shifting production from biodiesel toward renewable diesel changes the mix of fats and oils demanded, while overall feedstock demand grows. Soybean oil prices are supported by the expansion of renewable diesel capacity.
dtnpf.comMay 1, 2024After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
