Biodiesel to take up 10% of US soy crop this year

Soy, for the breakfast table and the car

Soybean oil use in biodiesel production is growing. The Census Bureau reported methyl ester production at 254,476,000 pounds in June. That was down from 271,911,000 in May. There is one less day in June, and these numbers are subject to later revision. For the crop year, production totals over 1.7 billion pounds. If the latest monthly production pace continues, crop year production of methyl ester will exceed the USDA forecast of 2.4 billion. That will be over 10% of the total soybean oil supply. This remains a bullish factor for soybean oil.

Tech Culture
About the author

    Martin Tobias is CEO and chairman of Imperium Renewables and a venture partner at Ignition Partners.


    Join the discussion

    Conversation powered by Livefyre

    Show Comments Hide Comments
    Latest Galleries from CNET
    Best mobile games of 2014
    Nissan gives new Murano bold style (pictures)
    Top great space moments in 2014 (pictures)
    This is it: The Audiophiliac's top in-ear headphones of 2014 (pictures)
    ZTE's wallet-friendly Grand X (pictures)
    Lenovo reprises clever design for the Yoga Tablet 2 (Pictures)