# Renewable diesel opens new markets for soy oil

> Renewable Energy Group and Mid-Iowa Cooperative plan a new Shell Rock, Iowa soybean processing plant producing almost half a billion pounds of soy oil annually for renewable diesel feedstock. The project adds new crush capacity aimed at renewable diesel demand.

- Date: 2021-07-12 · published 2021-07-12T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/45935-renewable-diesel-opens-new-markets-for-soy-oil
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

New crushing capacity increases soybean and meal output over time, with more oil directed to renewable diesel, which shifts the soy crush balance toward oil and supports soybean oil prices relative to meal.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-08-13 | [Soybean Demand Offers Hope for the Market \| Red River Farm Network](https://feedsoft.ai/events/11345-soybean-demand-offers-hope-for-the-market-red-river-farm-network.md) | +2.5% | +10.6% |
| SOY | 2017-05-08 | [Appetite for soybeans reaches new high](https://feedsoft.ai/events/70884-appetite-for-soybeans-reaches-new-high.md) | -0.9% | -4.3% |
| SOY | 2020-03-04 | [Soybeans rise on hopes for export demand, financial market gains \| Financial Post](https://feedsoft.ai/events/54186-soybeans-rise-on-hopes-for-export-demand-financial-market-gains-financial-post.md) | -2.2% | -0.8% |
| SOY | 2022-08-18 | [New marketing year points to favorable soybean export volumes to China](https://feedsoft.ai/events/14908-new-marketing-year-points-to-favorable-soybean-export-volumes-to-china.md) | +5.8% | -1.6% |
| SOY | 2024-03-25 | [US soy volatile on possible China buying \| Latest Market News](https://feedsoft.ai/events/14768-us-soy-volatile-on-possible-china-buying-latest-market-news.md) | -0.6% | -2.6% |
| SBO | 2022-05-03 | [Renewable Diesel Policy to Hit Soy Trade Flows \| CZ app](https://feedsoft.ai/events/15396-renewable-diesel-policy-to-hit-soy-trade-flows-cz-app.md) | +3.0% | -3.8% |
| SBO | 2026-07-16 | [Brazil soybean oil exports may exceed forecasts \| Latest Market News](https://feedsoft.ai/events/18450-brazil-soybean-oil-exports-may-exceed-forecasts-latest-market-news.md) | -0.6% | -4.7% |
| SBO | 2020-03-04 | [Soybeans rise on hopes for export demand, financial market gains \| Financial Post](https://feedsoft.ai/events/54186-soybeans-rise-on-hopes-for-export-demand-financial-market-gains-financial-post.md) | -4.9% | -6.3% |

## Sources

- iowafarmbureau.com: https://www.iowafarmbureau.com/Article/Renewable-diesel-opens-new-markets-for-soy-oil

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