# Renewable biodiesel and soybean prices: What to expect

> Irwin said renewable biodiesel demand rests on multiple government policies and would largely disappear without them, since it costs roughly $1.50 to $2 per gallon more than regular diesel. A CoBank scenario from 2022 projected large additional soybean acreage needs, which Irwin considers unlikely.

- Date: 2024-01-30 · published 2024-01-30T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/15244-renewable-biodiesel-and-soybean-prices-what-to-expect
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Because demand depends on policy rather than fuel economics, the expected soybean price lift from biofuels is more modest, limiting upside for soybean oil and soybeans.

## Read by commodity

- SBO: neutral
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2019-12-19 | [US biodiesel and soybean industry call on President Trump to improve 2020 RFS \| Bioenergy International](https://feedsoft.ai/events/55450-us-biodiesel-and-soybean-industry-call-on-president-trump-to-improve-2020-rfs.md) | +2.8% | -0.2% |
| SBO | 2017-12-19 | [10 Years of Biodiesel in the RFS - American Soybean Association](https://feedsoft.ai/events/67351-10-years-of-biodiesel-in-the-rfs-american-soybean-association.md) | +0.5% | -2.4% |
| SBO | 2022-05-20 | [Malaysia to reduce palm oil export tax, biodiesel mandate](https://feedsoft.ai/events/15820-malaysia-to-reduce-palm-oil-export-tax-biodiesel-mandate.md) | -0.4% | -7.6% |
| SBO | 2019-01-24 | [Soy Leaders ‘Engage’ with Biodiesel Industry - American Soybean Association](https://feedsoft.ai/events/60969-soy-leaders-engage-with-biodiesel-industry-american-soybean-association.md) | +3.5% | +3.8% |
| SBO | 2023-12-28 | [Renewable diesel plans unrealistic: analyst \| The Western Producer](https://feedsoft.ai/events/15250-renewable-diesel-plans-unrealistic-analyst-the-western-producer.md) | -0.8% | -2.9% |
| SOY | 2017-12-19 | [10 Years of Biodiesel in the RFS - American Soybean Association](https://feedsoft.ai/events/67351-10-years-of-biodiesel-in-the-rfs-american-soybean-association.md) | -0.2% | +1.2% |
| SOY | 2017-11-30 | [RFS Volumes Again Fail to Capture Biodiesel’s Potential - American Soybean Association](https://feedsoft.ai/events/67841-rfs-volumes-again-fail-to-capture-biodiesel-s-potential-american-soybean.md) | +1.0% | -4.7% |
| SOY | 2020-11-19 | [Brazil approves biodiesel production with imported soybeans - BNamericas](https://feedsoft.ai/events/50027-brazil-approves-biodiesel-production-with-imported-soybeans-bnamericas.md) | +0.7% | +2.2% |

## Sources

- farmprogress.com: https://www.farmprogress.com/soybean/renewable-biodiesel-and-soybean-prices-what-to-expect

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