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USDA maintains forecast for soybean oil use in biofuel production

October 12, 2022

BY Erin Voegele

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January WASDE reduces 2024-’25 forecast for soybean oil use in biofuel production

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The USDA reduced its forecast for 2024-’25 soybean use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Jan. 10. The forecast for soybean oil prices is unchanged.

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Bayer on Jan. 9 announced a deal with Canada-based Smart Earth Camelina Corp., whereby Bayer has acquired their camelina germplasm, intellectual property, and materials to expand its global leadership position in biomass-based feedstock markets.

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Neste and Bayer have signed an MOU aimed at developing a winter canola ecosystem in the U.S, including identifying partners and developing the value chain together, and scaling winter canola production as a raw material for renewable products.

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The USDA has appointed 36 members to serve on the newly formed Greenhouse Gas Technical Assistance Provider and Third-Party Verifier Program Advisory Council, informally known as the Growing Climate Solutions Act Advisory Council.

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U.S. operable biofuels production capacity increased slightly in October, with a small gain for ethanol, according to data released by the U.S. EIA on Dec. 31. Feedstock consumption was down when compared to October 2023.

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