# EIA forecasts supply and consumption of biofuels | Hydrocarbon Engineering

> EIA's February Short-Term Energy Outlook added separate forecasts for production, consumption and net imports of biodiesel and renewable diesel. The agency noted several former refineries are converting to renewable diesel, with US capacity expected to nearly triple to about 77,000 bpd plus additions by the end of 2023.

- Date: 2022-02-17 · published 2022-02-17T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/15419-eia-forecasts-supply-and-consumption-of-biofuels-hydrocarbon-engineering
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Rising renewable diesel capacity increases demand for vegetable oil and fats feedstocks, which supports soybean oil prices, while the new reporting clarifies the outlook without a direct price shock.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2025-07-14 | [USDA forecasts lower corn supplies, higher biofuel demand in latest outlook \| Feed & Grain](https://feedsoft.ai/events/23712-usda-forecasts-lower-corn-supplies-higher-biofuel-demand-in-latest-outlook-feed.md) | -0.6% | -1.9% |
| SBO | 2024-11-05 | [Grain and Biofuel Outlook: Biofuels Creating Needed Demand for Ample U.S. Harvests](https://feedsoft.ai/events/27505-grain-and-biofuel-outlook-biofuels-creating-needed-demand-for-ample-u-s-harvests.md) | +4.1% | -8.4% |
| SBO | 2021-04-08 | [USDA to expand forecasts on soyoil use in biofuels in May crop report - Markets - Business Recorder](https://feedsoft.ai/events/47668-usda-to-expand-forecasts-on-soyoil-use-in-biofuels-in-may-crop-report-markets.md) | +0.2% | +17.0% |
| SBO | 2025-11-18 | [Grain prices soften on supply, while edible oils firm on strong consumption](https://feedsoft.ai/events/22033-grain-prices-soften-on-supply-while-edible-oils-firm-on-strong-consumption.md) | -2.4% | -4.4% |
| SBO | 2024-01-03 | [EIA: US Biofuel Capacity, Feedstock Consumption Up In October - Canadian Biomass Magazine](https://feedsoft.ai/events/15245-eia-us-biofuel-capacity-feedstock-consumption-up-in-october-canadian-biomass.md) | -0.8% | -6.4% |

## Sources

- hydrocarbonengineering.com: https://www.hydrocarbonengineering.com/clean-fuels/17022022/eia-forecasts-supply-and-consumption-of-biofuels/

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