# Biofuels and feedstocks: Market outlook 2023 - Fastmarkets

> Fastmarkets' agriculture team outlines biofuel feedstock drivers, noting renewable diesel plants ran below capacity at the start of the year. Animal fats, UCO and DCO prices have eased from late-summer highs, tracking lower soybean oil futures that fell after EPA's lower-than-expected RVOs in December.

- Date: 2023-02-07 · published 2023-02-07T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/37419-biofuels-and-feedstocks-market-outlook-2023-fastmarkets
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Lower renewable diesel run rates reduce demand for soybean oil and other feedstocks, pressuring prices near term. Fastmarkets still expects long-term support from growing renewable diesel and SAF output.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2024-11-04 | [US Renewable Fuels Tax Credits and Feedstock Values Rest on Election Outcome \| Aegis Market Insights](https://feedsoft.ai/events/15169-us-renewable-fuels-tax-credits-and-feedstock-values-rest-on-election-outcome.md) | +5.2% | -6.9% |
| SBO | 2019-08-01 | [NBB Asks EPA to Raise 2020 RFS and 2021 Biodiesel Volumes - Fuels Market News](https://feedsoft.ai/events/57450-nbb-asks-epa-to-raise-2020-rfs-and-2021-biodiesel-volumes-fuels-market-news.md) | +0.8% | +1.3% |
| SBO | 2024-03-25 | [Viewpoint: Crop-based feedstocks face an uphill battle \| Latest Market News](https://feedsoft.ai/events/15232-viewpoint-crop-based-feedstocks-face-an-uphill-battle-latest-market-news.md) | +0.6% | -4.4% |
| SBO | 2025-11-04 | [ADM cuts 2025 outlook on US biofuel policy delays, trade woes](https://feedsoft.ai/events/15070-adm-cuts-2025-outlook-on-us-biofuel-policy-delays-trade-woes.md) | +1.2% | +5.1% |
| SBO | 2026-01-16 | [US soybean oil prices stall amid biofuel policy, 45Z uncertainty: 2026 preview - Fastmarkets](https://feedsoft.ai/events/15055-us-soybean-oil-prices-stall-amid-biofuel-policy-45z-uncertainty-2026-preview.md) | +1.3% | +6.8% |
| PALMOIL | 2025-03-21 | [Shift to 45Z storms biofuel markets \| Argus Media](https://feedsoft.ai/events/25682-shift-to-45z-storms-biofuel-markets-argus-media.md) | -0.8% | -7.3% |
| PALMOIL | 2021-08-26 | [Indonesia's biofuel B40 plan expansion at risk on high palm oil prices - Fastmarkets](https://feedsoft.ai/events/45437-indonesia-s-biofuel-b40-plan-expansion-at-risk-on-high-palm-oil-prices.md) | -2.5% | +2.0% |
| PALMOIL | 2022-12-05 | [Veg oils: Markets weighed down by disappointing US blending mandates - Fastmarkets](https://feedsoft.ai/events/38341-veg-oils-markets-weighed-down-by-disappointing-us-blending-mandates-fastmarkets.md) | +1.3% | +7.0% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/biofuels-and-feedstocks-market-outlook-2023/

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