# Climate change initiatives create new dynamics in the North America biofuels market

> S&P Global examines how US and Canadian net-zero climate goals are driving biofuel growth. Soybean oil supplies 48% of renewable fuel feedstock, and soyoil futures peaked at 73 cents per pound in June 2021.

- Date: 2021-11-01 · published 2021-11-01T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/44130-climate-change-initiatives-create-new-dynamics-in-the-north-america-biofuels
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Policy-driven biofuel demand anchors soybean oil and other vegetable oil prices at high levels, linking feed-ingredient costs to energy and climate policy.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2025-12-31 | [Biofuel mandates redraw the soybean oil map in South America](https://feedsoft.ai/events/21598-biofuel-mandates-redraw-the-soybean-oil-map-in-south-america.md) | -0.9% | +7.4% |
| SBO | 2021-01-14 | [Biofuels, which are critical for soy growers, have role to play in climate challenge - Brownfield Ag News](https://feedsoft.ai/events/49018-biofuels-which-are-critical-for-soy-growers-have-role-to-play-in-climate.md) | -0.5% | +7.7% |
| SBO | 2023-06-07 | [Focus: As biofuels boom, companies retool oilseeds to crack new markets](https://feedsoft.ai/events/35578-focus-as-biofuels-boom-companies-retool-oilseeds-to-crack-new-markets.md) | +8.2% | +27.0% |
| SBO | 2018-10-04 | [NBB Appreciates Bipartisan Support for Biodiesel Tax Incentive Extension - Fuels Market News](https://feedsoft.ai/events/62416-nbb-appreciates-bipartisan-support-for-biodiesel-tax-incentive-extension-fuels.md) | -2.9% | -5.1% |
| SBO | 2022-06-30 | [EIA: Ethanol and Biomass-based Diesel Prices - Fuels Market News](https://feedsoft.ai/events/15389-eia-ethanol-and-biomass-based-diesel-prices-fuels-market-news.md) | -11.1% | -14.1% |
| SOY | 2021-01-14 | [Biofuels, which are critical for soy growers, have role to play in climate challenge - Brownfield Ag News](https://feedsoft.ai/events/49018-biofuels-which-are-critical-for-soy-growers-have-role-to-play-in-climate.md) | -2.9% | -3.1% |
| SOY | 2023-06-07 | [Focus: As biofuels boom, companies retool oilseeds to crack new markets](https://feedsoft.ai/events/35578-focus-as-biofuels-boom-companies-retool-oilseeds-to-crack-new-markets.md) | +3.4% | +12.7% |
| SOY | 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) | -0.6% | -2.6% |

## Sources

- spglobal.com: https://www.spglobal.com/esg/s1/research-analysis/climate-change-initiatives-create-new-dynamics-in-the-north-am.html

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