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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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Farmers Edge Inc. and Gevo Inc. will work with growers spanning three states to track and quantify the carbon intensity impact of climate-smart practices helping to accelerate the production of SAF and low-CI ethanol,

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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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California Ethanol + Power on April 3 announced that Booker Tate Ltd. will help guide sugarcane cultivation plans for Sugar Valley Energy, a proposed bioenergy project in California that is expected to produce ethanol, biogas, power and SAF.

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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.

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The USDA’s National Agricultural Statistics Service is predicting a 3% increase in soybean planted area for 2024, according to the agency’s annual Prospective Plantings report, which was released March 28.

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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.

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Japan-based petroleum company ENEOS Corp. on March 22 announced that a coalition of Japanese and South Korean companies have entered an MOU to cooperate on feedstock for a SAF project ENOES is developing.

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Yield10 Bioscience Inc. has reported that its proprietary varieties of winter Camelina sativa (camelina) in development responded as expected to herbicides in the first field tests conducted in the U.S.

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The U.S. Department of Energy on March 15 released the 2023 Billion-Ton Report (BT23), which shows that the U.S. could sustainably triple its production of biomass to more than 1 billion tons per year.

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Canadian canola growers will soon be able to benefit from new and expanding market opportunities for renewable fuel feedstocks linked to bioenergy with the new Cargill Power Canola program.

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Gevo Inc. has reported that efforts are continuing to secure a U.S. DOE loan guarantee to support the construction of its proposed SAF facility. Gevo also reported that its RNG project in Iowa operated at 91% capacity during Q4.

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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 March 8. The forecasted soybean oil price was reduced.

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Bunge Chevron Ag Renewables LLC, a joint venture of Bunge and Chevron, on March 4 celebrated the groundbreaking of a new oilseed processing facility in Louisiana. The plant is expected to be operational in 2026.

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A recent life cycle assessment highlights a notable 22% decrease in the carbon footprint associated with U.S. production of crude soy oil, which is a key feedstock for U.S. biodiesel, renewable diesel and SAF producers.

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Total U.S. operable biofuels production capacity fell slightly in December, according to data released by the U.S. Energy Information Administration. Total feedstock consumption was up when compared to both the previous month and December 2022.

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Yield10 Bioscience Inc. on Feb. 14 announced it has granted VISION Bioenergy Oilseeds LLC a global license to certain proprietary varieties of camelina sativa for the production of feedstock oil for biofuels.

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The U.S. Department of Energy Bioenergy Technologies Office announced $29 million in funding to drive research, development, and demonstration of low-carbon-intensity, purpose-grown energy crops critical to accelerating a clean energy economy.

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Researchers at U.K.-based De Montfort University Leicester (DMU) have pioneered a new manufacturing process which could make the creation of biofuel from waste cooking oil faster and more efficient.

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The U.S. Department of Energy Bioenergy Technologies Office has named the 15 teams advancing as finalists in the AlgaePrize 2023–2025 competition. Each team will receive $10,000 to support research projects over the next 16 months.

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The U.S. Department of Energy’s (DOE) Bioenergy Technologies Office (BETO) released a summary report following its Deploying Purpose-Grown Energy Crops for Sustainable Aviation Fuel (SAF) workshop held June 6-7, 2023, in Kansas City, Missouri.

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The USDA maintained its projection for 2023-’24 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Feb. 8. The agency reduced its forecast for soybean oil prices.

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Loamist, a climatetech startup, has announced its pre-seed financing and emergence from stealth mode, marking the public release of its Biomass Explorer product, a tool that addresses the critical challenge of accessing biomass.

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Total U.S. biofuel operatable production capacity was up slightly in November, with gains for ethanol, according to data released by the U.S. Energy Information Administration on Jan. 31. Total feedstock consumption was down slightly from October.

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Sens. Jerry Moran, R-Kan.; Amy Klobuchar, D-Minn.; Joni Ernst, R-Iowa; Tammy Duckworth, D-Ill.; and Chuck Grassley, R-Iowa, on Jan. 22 introduced the Farm to Fly Act, a bill that aims to accelerate the production and development of SAF.

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The USDA increased its forecast for 2023-’24 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Jan. 12. The price of soybean oil was revised down.

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A study released by Decision Innovation Solutions on Jan. 11 shows the Midwest stands to benefit greatly if the SAF goal of 35 billion gallons by 2050 is met, as two of the most likely SAF feedstocks would be soybean oil and corn.

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