Photo: The American Soybean Association
January 29, 2020
BY Ron Kotrba
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The USDA on Oct. 15 held a third virtual listening session as part of its public consultation on climate-smart ag for biofuel feedstocks. During the event, biofuel groups advocated for flexibility in CSA requirements for the 45Z credit.
The USDA on Sept. 30 published a final rule implementing several policy and procedure revisions for its OneRD Guarantee Loan Program, which houses several of the agency’s loan programs, including the Rural Energy for America Program.
Terviva Inc. on Oct. 15 announced its investment from Chevron Renewable Energy Group. Together, the two companies expect to scale Terviva’s pongamia-growing operations and drive greater availability of pongamia as a biofuel feedstock.
Soybean oil use for biobased diesel production reached a near-record high in June, but demand for soybean oil feedstock continues to face headwinds from rising imports of UCO and tallow, according to CoBank.
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 Oct. 11. The outlook for soybean oil prices is also unchanged.