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A rapid build-out of US and global renewable diesel capacity is underway, with US output projected to reach 5 billion gallons by 2024. About one-third of US soy oil production is currently used for biofuels, and that share is expected to rise to 43% in the 2021-22 marketing year.
Strong renewable diesel demand tightens soybean oil supplies and supports prices, but the rapid capacity growth makes it a volatile wildcard.
agriculture.comSuccessful Farming StaffSep 17, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
