USDA predicts 3% increase in soybean acreage for 2024
March 28, 2024
BY Erin Voegele
Advertisement
Advertisement
Related Stories
The USDA maintained its forecast for 2023-’24 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released April 11. The forecasted price for soybean oil was also unchanged.
The U.S. Department of Energy will award up $18.8 million to address research and development (R&D) challenges in converting algae, such as seaweeds and other wet waste feedstocks, to biofuels and bioproducts.
The University of Missouri’s FAPRI in March released a report featuring 10-year baseline projections for U.S. agricultural markets that predicts renewable diesel and SAF production will grow over the next decade while biodiesel production declines.
U.S. biofuels operable production capacity was unchanged in January, according to data released by the U.S. Energy Information Administration on March 29. Total feedstock consumption was down when compared to the previous month.
CoBank is predicting U.S. soybean crush capacity will expand 23% over the next three years. In a report released March 21, the company discusses the risk that this rapidly expanding capacity could exceed renewable diesel growth.
Upcoming Events
@ Copyright 2024 - BBI International - All rights reserved.