# US biofuel support clears way for new crush capacity | Latest Market News

> North American oilseed crushers say more than 620,000 bu/d of new soybean and canola crush capacity is on track to start within the next year. Projects include a 96,000 bu/d facility in South Dakota, a 137,000 bu/d plant in Nebraska and a 121,000 bu/d canola plant in Saskatchewan. Policymakers are signalling they want more domestic feedstock use in biofuels.

- Date: 2024-03-25 · published 2024-03-25T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/31292-us-biofuel-support-clears-way-for-new-crush-capacity-latest-market-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Expanded crush capacity increases soybean demand and soybean oil supply, while the extra meal output is bearish for soybean meal prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-03-25 | [US mandates record-high biofuel use: Update \| Latest Market News](https://feedsoft.ai/events/15233-us-mandates-record-high-biofuel-use-update-latest-market-news.md) | -0.6% | -2.6% |
| SOY | 2024-03-25 | [Policy changes to support US soybeans: Darling \| Latest Market News](https://feedsoft.ai/events/15228-policy-changes-to-support-us-soybeans-darling-latest-market-news.md) | -0.6% | -2.6% |
| SOY | 2024-03-25 | [US senator presses CF on soaring nitrogen prices \| Latest Market News](https://feedsoft.ai/events/31523-us-senator-presses-cf-on-soaring-nitrogen-prices-latest-market-news.md) | -0.6% | -2.6% |
| SOY | 2018-09-25 | [NBB, ASA Ask President Trump to Support Biodiesel Producers, Soy Farmers - Fuels Market News](https://feedsoft.ai/events/62922-nbb-asa-ask-president-trump-to-support-biodiesel-producers-soy-farmers-fuels.md) | +2.0% | +2.1% |
| SOY | 2022-12-26 | [Soy Crush Plants Give Long-Term Support to Bean Markets](https://feedsoft.ai/events/38281-soy-crush-plants-give-long-term-support-to-bean-markets.md) | +0.6% | +1.6% |
| SBO | 2024-03-25 | [US mandates record-high biofuel use: Update \| Latest Market News](https://feedsoft.ai/events/15233-us-mandates-record-high-biofuel-use-update-latest-market-news.md) | +0.6% | -4.4% |
| SBO | 2024-03-25 | [US biofuel feed prices jump on blending plan \| Latest Market News](https://feedsoft.ai/events/31290-us-biofuel-feed-prices-jump-on-blending-plan-latest-market-news.md) | +0.6% | -4.4% |
| SBO | 2024-03-25 | [Policy changes to support US soybeans: Darling \| Latest Market News](https://feedsoft.ai/events/15228-policy-changes-to-support-us-soybeans-darling-latest-market-news.md) | +0.6% | -4.4% |

## Sources

- argusmedia.com: https://www.argusmedia.com/en/news-and-insights/latest-market-news/2709073-us-biofuel-support-clears-way-for-new-crush-capacity

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