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Scott Irwin said U.S. renewable diesel production was under 1 billion gallons a year through 2020 and that about two dozen plants are now being built. He cited planned capacity rising toward 7.4 billion gallons after 2025, including a 680 million gallon California refinery due in 2024.
A large increase in renewable diesel capacity would draw substantially more soybean oil and other feedstocks, supporting soybean and soybean oil prices.
agrinews-pubs.comMartha BlumJan 11, 2024After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% over 20.
After 356 past bullish policy events, SOY moved a median +0.1% over 5 sessions (53% higher; middle half -1.2% to +2.3%), and -0.9% 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.
