# Renewable diesel projected to turbo charge U.S. biofuel growth – AgriNews

> CoBank's Knowledge Exchange report says new U.S. renewable diesel investment will drive biofuel growth. Proposed crush and refinery projects could raise renewable diesel capacity sixfold to 6.5 billion gallons a year by 2030.

- Date: 2022-11-16 · published 2022-11-16T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/15355-renewable-diesel-projected-to-turbo-charge-u-s-biofuel-growth-agrinews
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The expected expansion would require far more soybean crush, implying sustained demand for soybeans and soy oil and a need for much more acreage, which supports soybean prices.

## Read by commodity

- SBM: neutral
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-10-04 | [Report: Renewable Diesel Will Turbocharge U.S. Biofuel Growth \| Feed & Grain](https://feedsoft.ai/events/15362-report-renewable-diesel-will-turbocharge-u-s-biofuel-growth-feed-and-grain.md) | +3.3% | +8.3% |
| SBO | 2023-03-09 | [EIA: Renewable Diesel Growth at Expense of Biodiesel \| O&E Online](https://feedsoft.ai/events/15326-eia-renewable-diesel-growth-at-expense-of-biodiesel-o-and-e-online.md) | -5.4% | -5.1% |
| SBO | 2021-07-22 | [US renewable diesel capacity projected to hit 5.1 billion gallons per year by 2024](https://feedsoft.ai/events/45934-us-renewable-diesel-capacity-projected-to-hit-5-1-billion-gallons-per-year-by.md) | +0.7% | -3.5% |
| SBO | 2023-11-22 | [Biodiesel Producers Weathering the Renewable Diesel Surge](https://feedsoft.ai/events/15264-biodiesel-producers-weathering-the-renewable-diesel-surge.md) | -1.2% | -4.4% |
| SBO | 2022-03-24 | [EIA projects U.S. renewable diesel supply to surpass biodiesel in AEO2022 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/15408-eia-projects-u-s-renewable-diesel-supply-to-surpass-biodiesel-in-aeo2022-u-s.md) | -3.0% | +263.0% |
| SOY | 2022-10-04 | [Report: Renewable Diesel Will Turbocharge U.S. Biofuel Growth \| Feed & Grain](https://feedsoft.ai/events/15362-report-renewable-diesel-will-turbocharge-u-s-biofuel-growth-feed-and-grain.md) | 0.0% | +2.4% |
| SOY | 2026-04-19 | [Slight hike in projected prices – AgriNews](https://feedsoft.ai/events/19753-slight-hike-in-projected-prices-agrinews.md) | -0.3% | +0.8% |
| SOY | 2022-09-29 | [Report highlights demands on soybean industry from US renewable diesel growth](https://feedsoft.ai/events/15372-report-highlights-demands-on-soybean-industry-from-us-renewable-diesel-growth.md) | -2.8% | -1.9% |

## Sources

- agrinews-pubs.com: https://www.agrinews-pubs.com/business/2022/11/16/renewable-diesel-projected-to-turbo-charge-us-biofuel-growth/

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