# What could be slowing the growth of biofuels?

> Chevron Renewable Energy Group's president described growth in the renewable fuels sector at the Iowa Soybean Association board meeting. The company is expanding its Geismar, Louisiana biorefinery to lift renewable diesel capacity to 340 million gallons a year in 2024. Chevron is also seeking new oilseed feedstocks, including winter canola grown as a second crop in the southern Plains.

- Date: 2023-12-21 · published 2023-12-21T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/15251-what-could-be-slowing-the-growth-of-biofuels
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Expanding renewable diesel output supports demand for soybean oil, while new oilseed feedstocks such as winter canola could add supply. The net effect on oilseed prices is modest for now.

## Read by commodity

- SBO: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-06-09 | [Final rule sets stage for biofuels growth](https://feedsoft.ai/events/15385-final-rule-sets-stage-for-biofuels-growth.md) | -6.6% | -24.6% |
| SBO | 2025-05-29 | [Crush Expanding, Biofuels Shifting - What Does It Mean?](https://feedsoft.ai/events/15124-crush-expanding-biofuels-shifting-what-does-it-mean.md) | -4.6% | +3.5% |
| SBO | 2025-08-07 | [EPA?S Proposed Biofuel Targets Could Stall Industry Growth And Drive Up Prices](https://feedsoft.ai/events/15101-epa-s-proposed-biofuel-targets-could-stall-industry-growth-and-drive-up-prices.md) | -0.3% | -1.9% |
| SBO | 2026-01-21 | [U.S. biofuel growth could lift soy prices, reduce China dependence - Brownfield Ag News](https://feedsoft.ai/events/15059-u-s-biofuel-growth-could-lift-soy-prices-reduce-china-dependence-brownfield-ag.md) | +3.9% | +8.2% |
| SBO | 2026-10-27 | [Growing US biofuel production intensifies competition for soybean oil](https://feedsoft.ai/events/17179-growing-us-biofuel-production-intensifies-competition-for-soybean-oil.md) | -0.5% | — |

## Sources

- iasoybeans.com: https://www.iasoybeans.com/newsroom/article/challenges-facing-the-biofuels-industry

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