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Renewable diesel refining capacity grew from about 800 million gallons in 2020 to over 4 billion gallons in 2023 and is expected to exceed 7 billion gallons later this decade. Soybean crush capacity is also expanding, with 600 million bushels of additional capacity expected by 2026.
Rapid growth in crush capacity and renewable diesel output increases soybean oil and meal supply, while demand depends on mandates and LCFS credits, pressuring meal prices and margins.
nefb.orgFeb 13, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
