# Marathon Petroleum forms JV with ADM for renewable fuels feedstock | Reuters

> Marathon Petroleum and Archer-Daniels-Midland announced a joint venture to build a soybean processing complex in Spiritwood, North Dakota. The plant is expected to produce about 600 million pounds of refined soybean oil a year when completed in 2023. All of its output will be sold exclusively to Marathon as renewable diesel feedstock.

- Date: 2021-08-19 · published 2021-08-19T12:00:00.000Z
- Category: policy · region US · magnitude low
- Page: https://feedsoft.ai/events/45651-marathon-petroleum-forms-jv-with-adm-for-renewable-fuels-feedstock-reuters
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Securing dedicated soybean oil demand from a large refiner adds to the pull on US soyoil supplies already tightened by biofuel use. That supports soybean oil prices and keeps crush margins firm.

## Read by commodity

- SBO: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2022-03-01 | [Marathon partners with Neste on Martinez renewable fuels project \| Reuters](https://feedsoft.ai/events/15414-marathon-partners-with-neste-on-martinez-renewable-fuels-project-reuters.md) | +2.9% | -3.2% |
| SBO | 2021-08-19 | [Marathon Petroleum Corp., ADM Announce Feedstock Partnership to Support Renewable Diesel Production](https://feedsoft.ai/events/45448-marathon-petroleum-corp-adm-announce-feedstock-partnership-to-support-renewable.md) | -4.3% | -8.1% |
| SBO | 2021-04-09 | [U.S. renewable fuels market could face feedstock deficit \| Reuters](https://feedsoft.ai/events/47456-u-s-renewable-fuels-market-could-face-feedstock-deficit-reuters.md) | +0.3% | +16.2% |
| SBO | 2021-08-17 | [Renewable fuel companies edge out some refiners on feedstock](https://feedsoft.ai/events/11368-renewable-fuel-companies-edge-out-some-refiners-on-feedstock.md) | -8.0% | -11.7% |
| SBO | 2021-04-13 | [Renewable Diesel Feedstock – Green Fuel and Affordable Food Part 2 \| S&P Global](https://feedsoft.ai/events/47458-renewable-diesel-feedstock-green-fuel-and-affordable-food-part-2-s-and-p-global.md) | +7.3% | +19.6% |

## Sources

- reuters.com: https://www.reuters.com/article/business/marathon-petroleum-forms-jv-with-adm-for-renewable-fuels-feedstock-idUSKBN2FK29P/

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