# Focus: As biofuels boom, companies retool oilseeds to crack new markets

> U.S. soybean crushers plan to expand capacity by 30% over three years, and Canadian canola crushing is set to rise 60%. The growth is driven by biofuel demand that is pushing companies to retool oilseed processing.

- Date: 2023-06-07 · published 2023-06-07T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/35578-focus-as-biofuels-boom-companies-retool-oilseeds-to-crack-new-markets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Biofuel-driven crush expansion increases demand for soybeans and canola and shifts supply toward oil, which tends to support soybean oil prices and the value of the meal coproduct.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-02-20 | [US oil, biofuel groups unite to urge new Trump EPA to boost biofuel mandates \| Reuters](https://feedsoft.ai/events/15141-us-oil-biofuel-groups-unite-to-urge-new-trump-epa-to-boost-biofuel-mandates.md) | -0.7% | -2.3% |
| SOY | 2018-05-29 | [Markets in the morning: Oilseeds: Argentina raises](https://feedsoft.ai/events/65108-markets-in-the-morning-oilseeds-argentina-raises.md) | -3.8% | -16.0% |
| SOY | 2025-04-01 | [US oil and biofuel coalition meets with EPA to seek biomass diesel boost \| Reuters](https://feedsoft.ai/events/15125-us-oil-and-biofuel-coalition-meets-with-epa-to-seek-biomass-diesel-boost-reuters.md) | -3.1% | +2.6% |
| SOY | 2017-11-13 | [Markets in the morning: Oilseeds: US fix tariffs on](https://feedsoft.ai/events/68078-markets-in-the-morning-oilseeds-us-fix-tariffs-on.md) | +1.4% | +0.5% |
| SOY | 2026-04-01 | [RVOs set to launch next biofuels boom - Brownfield Ag News](https://feedsoft.ai/events/15033-rvos-set-to-launch-next-biofuels-boom-brownfield-ag-news.md) | -0.8% | +1.0% |
| SBM | 2025-08-01 | [Uncertainty prevails as soy oil market seeks US biofuels clarity](https://feedsoft.ai/events/23827-uncertainty-prevails-as-soy-oil-market-seeks-us-biofuels-clarity.md) | +3.3% | +8.6% |
| SBM | 2021-05-31 | [Grain market review: Oilseeds May 2021](https://feedsoft.ai/events/47204-grain-market-review-oilseeds-may-2021.md) | -0.8% | -11.3% |
| SBM | 2024-03-25 | [US biofuel support clears way for new crush capacity \| Latest Market News](https://feedsoft.ai/events/31292-us-biofuel-support-clears-way-for-new-crush-capacity-latest-market-news.md) | -2.4% | +1.0% |

## Sources

- reuters.com: https://www.reuters.com/sustainability/biofuels-boom-companies-retool-oilseeds-crack-new-markets-2023-06-07/

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