# A Bright Future for Soybean Demand - ADM Advantage

> Renewable diesel production has nearly tripled in two years to about 3 billion gallons per year, surpassing biodiesel output. Petroleum companies are investing in renewable diesel, and ADM and others are expanding U.S. crushing capacity to meet the demand for soybean oil.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15316-a-bright-future-for-soybean-demand-adm-advantage
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Growing renewable diesel demand pulls soybean oil away from food uses and makes crush margins more dependent on fuel policy. Expanded crush also increases soybean meal supply, which is bearish for meal prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2021-03-15 | [Biodiesel Boosts Demand for Iowa Soybeans \| Iowa Soybean](https://feedsoft.ai/events/48002-biodiesel-boosts-demand-for-iowa-soybeans-iowa-soybean.md) | +0.0% | -0.5% |
| SBO | 2018-12-05 | [Building Demand for ND Soybeans \| Red River Farm Network](https://feedsoft.ai/events/61459-building-demand-for-nd-soybeans-red-river-farm-network.md) | +0.6% | -0.8% |
| SBO | 2024-01-22 | [Soybean Oil Rises With More US Demand Forecast for Biofuels - Bloomberg](https://feedsoft.ai/events/32190-soybean-oil-rises-with-more-us-demand-forecast-for-biofuels-bloomberg.md) | -0.9% | -2.2% |
| SBO | 2020-09-22 | [Future of Renewable Diesel Demand Looks Bright \| Energy Intelligence](https://feedsoft.ai/events/50992-future-of-renewable-diesel-demand-looks-bright-energy-intelligence.md) | -2.9% | -5.1% |
| SBO | 2020-09-16 | [South Dakota Soybean \| Biodiesel Industry Plans for Future Growth;…](https://feedsoft.ai/events/50990-south-dakota-soybean-biodiesel-industry-plans-for-future-growth.md) | -1.2% | -1.1% |
| SBM | 2024-08-01 | [Will US court ruling affect demand for soybean oil and meal?](https://feedsoft.ai/events/12100-will-us-court-ruling-affect-demand-for-soybean-oil-and-meal.md) | -3.0% | -10.1% |
| SBM | 2016-11-24 | [Soybean oil futures rose by 7% due to high biofuel](https://feedsoft.ai/events/6691-soybean-oil-futures-rose-by-7-due-to-high-biofuel.md) | -1.7% | -2.2% |
| SBM | 2023-06-07 | [Soybean meal prices to be bright spot for pig producers \| Feed Strategy](https://feedsoft.ai/events/35601-soybean-meal-prices-to-be-bright-spot-for-pig-producers-feed-strategy.md) | -0.3% | +4.1% |

## Sources

- admadvantage.com: https://www.admadvantage.com/news/a-bright-future-for-soybean-demand/

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