# Renewable diesel facilities will need a billion bushels of soybeans to meet needs

> Renewable diesel producers in California are expected to need roughly a billion bushels of soybeans, more than North Dakota produces, to meet the state's low carbon fuel standard. The article notes that renewable diesel is chemically equivalent to petroleum diesel and can be blended in existing infrastructure. Industry demand for feedstock is growing as more facilities come online.

- Date: 2023-02-24 · published 2023-02-24T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15336-renewable-diesel-facilities-will-need-a-billion-bushels-of-soybeans-to-meet
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Large soybean and soybean oil demand from California's low carbon fuel program tightens feedstock supplies and supports soybean and soybean oil prices.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-12-16 | [Renewable Diesel Plans Could Outstrip Soybean Acres, Soy Oil Supplies](https://feedsoft.ai/events/43698-renewable-diesel-plans-could-outstrip-soybean-acres-soy-oil-supplies.md) | +5.2% | +8.1% |
| SOY | 2021-11-12 | [Fuel the Crush: Renewable Diesel Pumps Up Soybean Demand](https://feedsoft.ai/events/15432-fuel-the-crush-renewable-diesel-pumps-up-soybean-demand.md) | +4.4% | +4.6% |
| SOY | 2019-02-01 | [A new mandate to increase domestic crush means more soybeans will be needed.](https://feedsoft.ai/events/60470-a-new-mandate-to-increase-domestic-crush-means-more-soybeans-will-be-needed.md) | -0.2% | -1.7% |
| SOY | 2022-09-08 | [Soybeans Play A Key Role In Renewable Fuels](https://feedsoft.ai/events/15374-soybeans-play-a-key-role-in-renewable-fuels.md) | +2.5% | -6.6% |
| SOY | 2019-03-06 | [768 million pounds of soybean oil went to biodiesel in December - McKeany-Flavell](https://feedsoft.ai/events/60179-768-million-pounds-of-soybean-oil-went-to-biodiesel-in-december-mckeany-flavell.md) | -1.8% | -0.1% |
| SBO | 2022-11-10 | [CHS sees 'bullish' demand in soybean oil, citing renewable diesel](https://feedsoft.ai/events/38751-chs-sees-bullish-demand-in-soybean-oil-citing-renewable-diesel.md) | -1.8% | -13.0% |
| SBO | 2022-03-25 | [Soybean oil demand will expand as renewable diesel emerges as ideal biofuel - Indiana Corn and Soy](https://feedsoft.ai/events/15407-soybean-oil-demand-will-expand-as-renewable-diesel-emerges-as-ideal-biofuel.md) | -2.1% | +274.5% |
| SBO | 2021-12-16 | [Renewable Diesel Plans Could Outstrip Soybean Acres, Soy Oil Supplies](https://feedsoft.ai/events/43698-renewable-diesel-plans-could-outstrip-soybean-acres-soy-oil-supplies.md) | +1.1% | +4.7% |

## Sources

- agupdate.com: https://agupdate.com/farmandranchguide/news/technology/article_1225d6f8-b09a-11ed-a0a2-db2080414225.html

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