# Biofuel forecast may prop up prices | The Western Producer

> The IEA forecasts global biofuel output rising about 25% over 2019 to 2024, with ethanol up 20% and biodiesel/HVO up 33%. Iowa State economists disagree on the outlook, with Iowa ethanol plants closing amid low prices.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56664-biofuel-forecast-may-prop-up-prices-the-western-producer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expanding biofuel demand supports corn and soyoil prices over the medium term, though near-term US ethanol weakness limits the immediate impact.

## Read by commodity

- SBO: bullish ▲
- CORN: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-06-13 | [U.S. grains: Soybeans climb, soyoil soars daily limit on US biofuel proposal \| The Western Producer](https://feedsoft.ai/events/8580-u-s-grains-soybeans-climb-soyoil-soars-daily-limit-on-us-biofuel-proposal-the.md) | -0.8% | -3.2% |
| CORN | 2020-04-29 | [Bank forecasts rise in food prices next month](https://feedsoft.ai/events/9191-bank-forecasts-rise-in-food-prices-next-month.md) | +2.5% | +2.3% |
| CORN | 2021-12-02 | [Nitrogen fertilizer shortage expected to drive down yields worldwide \| The Western Producer](https://feedsoft.ai/events/43517-nitrogen-fertilizer-shortage-expected-to-drive-down-yields-worldwide-the.md) | +7.3% | +3.2% |
| CORN | 2025-06-13 | [US EPA proposes higher biofuel blending volumes through 2027 \| Reuters](https://feedsoft.ai/events/15111-us-epa-proposes-higher-biofuel-blending-volumes-through-2027-reuters.md) | -0.8% | -3.2% |
| CORN | 2017-06-19 | [US corn ethanol producers to tap into overseas demand - Governors' Biofuels Coalition](https://feedsoft.ai/events/70503-us-corn-ethanol-producers-to-tap-into-overseas-demand-governors-biofuels.md) | -5.4% | -1.7% |
| SBO | 2024-07-19 | [Canola sector gets biofuel shock \| The Western Producer](https://feedsoft.ai/events/29212-canola-sector-gets-biofuel-shock-the-western-producer.md) | -0.7% | -9.5% |
| SBO | 2025-05-21 | [Trade, biofuel policies continue to influence crop markets \| The Western Producer](https://feedsoft.ai/events/24646-trade-biofuel-policies-continue-to-influence-crop-markets-the-western-producer.md) | -0.3% | +6.2% |
| SBO | 2024-10-29 | [Increases in palm oil diesel might impact veg oil prices \| The Western Producer](https://feedsoft.ai/events/27957-increases-in-palm-oil-diesel-might-impact-veg-oil-prices-the-western-producer.md) | +5.8% | -2.0% |

## Sources

- producer.com: https://www.producer.com/markets/biofuel-forecast-may-prop-up-prices/

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