PHOTO: WILL SMITH
January 11, 2017
BY Will Smith
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The USDA released its latest Crop Production report on Nov. 8, reporting reduced forecasts for 2024 soybean production and yields. Both production and yields, however, are up significantly when compared to last year.
The USDA maintained its forecast for 2024-’25 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Nov. 8. The U.S. season-average price for soybean oil was revised up 1 cent per pound.
U.S. operable biofuels capacity was at 24.9 billion gallons per year in August, down slightly from the previous month, according to data released by the U.S EIA. Feedstock consumption was up when compared to the previous year.
Missouri Attorney General Andrew Bailey on Nov. 1 sent a letter to the California Air Resources Board demanding the agency rescind proposed changes to its LCFS. CARB is expected to vote to adopt proposed LCFS amendments on Nov. 8.
ZeaKal on Oct. 30 announced that PhotoSeed has been validated as the first sustainability-embedded trait technology for agriculture. PhotoSeed enhances photosynthetic capacity, increasing soybean oil by 15%.