USDA predicts there will be less use of soybean oil for biofuels

USDA’s latest forecast for soybean oil has seen a downturn for use in biofuels.

World Agricultural Outlook Board Chair, Mark Jekanowski says the reduction of 200 million pounds comes from increasing imports of used cooking oil and yellow grease from Asia, stating that this directly competes with soybean oil and the production of renewable diesel. However, he mentions we should see some growth for the new crop year.

“We’re still forecasting about $12 billion of soybean oil to be used for biofuel and that would be up $1.5 billion from the previous crop year from the current crop year at 2021 and 2022,” said Jekanowski.

The U.S. produced 1.8 billion gallons of biodiesel in 2020, exporting 145 million gallons.


WASDE (8.12.22)

Iowa’s soybeans are meeting international demand

The Missouri Soybean Association is connecting with consumers


More than 80 dairy herds have been infected with the virus across 11 states since late March.
As hog prices face potential decline, pork producers are dealing with a surge in litter rates, complicating efforts to control production.
In February, farmers experienced a slight increase in prices, though it fell short of surpassing last year’s numbers.
According to a new USDA-ERS report, technological advancements in agriculture led to significant output increases while reducing input usage for producers.
The prospect of reintroducing grizzly bears in Washington’s North Cascades has ignited a contentious debate, pitting conservation efforts against the concerns of local farmers and ranchers.
As peach trees bloom ahead of schedule and unpredictable weather patterns loom, farmers across the nation find themselves grappling with the precarious risks posed to their fruit crops.