EL PASO, Ill. (RFD News) — Asphalt is one of the latest new markets for soybeans — but the industry is always looking for innovative uses for soybean oil.
Rob Shaffer with the United Soybean Board said developing new markets remains a priority.
“Whether that’s going into Skechers shoes, they use soybean oil in that,” he explains. “Tires, Goodyear tires, they put a soybean additive in there to make the tires last longer. We’re always looking for new ways to incorporate.”
But that’s far from the end of the road — since soybeans are also a great source of livestock feed and biofuel production.
“We’ve got a lot of animals that eat soybean meal,” Shaffer continues. “The other good one now is biodiesel and renewable diesel with 45Z, as far as soybean oil going into biofuels, whether that’s renewable diesel or biomass-based diesel. So that’s a big one too. Now that the government’s got that stuff figured out, there’s a big demand for soybean oil.”
Shaffer told AgInfo.net soybean demand has changed over the years, noting soybean oil was once a drag on the industry but has now taken precedence.
