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llinois claims top soybean production spot in 2017

January 15, 2018

BY The Illinois Soybean Association

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USDA predicts 14 billion pounds of soybean oil will go to biofuel production for 2024-‘25

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By Erin Voegele

May 10, 2024

Feedstocks

The USDA currently predicts soybean oil use in biofuel production will increase by 1 billion pounds to 14 billion pounds for 2024-25, according to the agency’s latest World Agricultural Supply and Demand Estimates Report, released May 10.

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The USDA’s Agricultural Research Service, the University of Nebraska–Lincoln, and Nebraska Innovation Campus on May 6 celebrated the groundbreaking of the National Center for Resilient and Regenerative Precision Agriculture.

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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.

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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.

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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.

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