# CoBank predicts solid 2024 For US biofuels industry  : The Daily Digest

> CoBank's Knowledge Exchange forecasts a solid 2024 for US biofuels, with ethanol margins staying healthy on affordable natural gas and corn prices under pressure from a record harvest. It also expects lower RIN prices to reduce renewable diesel profitability outside California.

- Date: 2023-12-23 · published 2023-12-23T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/32677-cobank-predicts-solid-2024-for-us-biofuels-industry-the-daily-digest
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Healthy ethanol margins support continued corn grind and soybean crush demand for oil, while weak corn prices favor feed buyers.

## Read by commodity

- SBO: neutral
- CORN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-08-17 | [CoBank report says ethanol industry will soon face worsening margins that could lead to consolidation  : The Daily Digest](https://feedsoft.ai/events/69458-cobank-report-says-ethanol-industry-will-soon-face-worsening-margins-that-could.md) | -2.7% | -3.9% |
| CORN | 2024-06-03 | [Corn use for ethanol and soy for biodiesel fall due to season maintenance  : The Daily Digest](https://feedsoft.ai/events/29868-corn-use-for-ethanol-and-soy-for-biodiesel-fall-due-to-season-maintenance-the.md) | -1.6% | -6.0% |
| CORN | 2023-02-01 | [Four Corn Industry Highlights for 2023 from the USDA Ag Outlook Forum](https://feedsoft.ai/events/37350-four-corn-industry-highlights-for-2023-from-the-usda-ag-outlook-forum.md) | +1.2% | -4.9% |
| CORN | 2024-04-16 | [USDA predicts lower crop prices for key commodities in 2024 \| Agriculture Dive](https://feedsoft.ai/events/30684-usda-predicts-lower-crop-prices-for-key-commodities-in-2024-agriculture-dive.md) | -0.3% | +3.3% |
| CORN | 2023-03-06 | [Solid 2022 Crop Yields in the Upper Midwest - MinnStar Bank](https://feedsoft.ai/events/13289-solid-2022-crop-yields-in-the-upper-midwest-minnstar-bank.md) | -1.2% | +1.1% |
| SBO | 2024-07-12 | [July WASDE maintains forecast for 2024-’25 soybean oil use in biofuel production  \| Biodiesel Magazine](https://feedsoft.ai/events/15201-july-wasde-maintains-forecast-for-2024-25-soybean-oil-use-in-biofuel-production.md) | -1.8% | -5.6% |
| SBO | 2024-08-12 | [August WASDE maintains forecast for 2024-’25 soybean oil use in biofuel production  \| Biodiesel Magazine](https://feedsoft.ai/events/28877-august-wasde-maintains-forecast-for-2024-25-soybean-oil-use-in-biofuel.md) | -5.1% | -2.1% |
| SBO | 2024-06-12 | [June WASDE maintains 2024-’25 forecast for soybean oil use in biofuel production \| Biodiesel Magazine](https://feedsoft.ai/events/29863-june-wasde-maintains-2024-25-forecast-for-soybean-oil-use-in-biofuel-production.md) | +1.0% | +9.5% |

## Sources

- biofuelsdigest.com: https://biofuelsdigest.com/cobank-predicts-solid-2024-for-us-biofuels-industry/

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