# RD Crowding Out Biodiesel as RVO Caps Production Incentive

> 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.

- Date: 2024-05-01 · published 2024-05-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/15213-rd-crowding-out-biodiesel-as-rvo-caps-production-incentive
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2017-12-15 | [U.S. biodiesel production still increasing despite expiration of tax credit -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/67355-u-s-biodiesel-production-still-increasing-despite-expiration-of-tax-credit-u-s.md) | -1.1% | -0.7% |
| SBO | 2018-03-28 | [The increased production of biodiesel will strengthen oilseed prices in 2018](https://feedsoft.ai/events/66097-the-increased-production-of-biodiesel-will-strengthen-oilseed-prices-in-2018.md) | +0.3% | -2.5% |
| SBO | 2019-10-05 | [Soyabean oil comprises larger share of US biodiesel production](https://feedsoft.ai/events/56442-soyabean-oil-comprises-larger-share-of-us-biodiesel-production.md) | +0.1% | +4.2% |
| SBO | 2020-07-31 | [US biodiesel production ticks up in May, soybean oil use hits 70% \| Biodiesel Magazine](https://feedsoft.ai/events/52197-us-biodiesel-production-ticks-up-in-may-soybean-oil-use-hits-70-biodiesel.md) | +5.1% | +11.1% |
| SBO | 2023-11-03 | [Increased Renewable Diesel Production is Attracting Competition for Soybean Oil](https://feedsoft.ai/events/15258-increased-renewable-diesel-production-is-attracting-competition-for-soybean-oil.md) | +2.0% | +6.9% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/business-inputs/article/2024/05/01/rd-crowding-biodiesel-rvo-caps

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