is part of the Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

  • American Agriculturist
  • Beef Producer
  • Corn and Soybean Digest
  • Dakota Farmer
  • Delta Farm Press
  • Farm Futures
  • Farm Industry news
  • Indiana Prairie Farmer
  • Kansas Farmer
  • Michigan Farmer
  • Missouri Ruralist
  • Nebraska Farmer
  • Ohio Farmer
  • Prairie Farmer
  • Southeast Farm Press
  • Southwest Farm Press
  • The Farmer
  • Wallaces Farmer
  • Western Farm Press
  • Western Farmer Stockman
  • Wisconsin Agriculturist
Biodiesel Gives Soy A Push

Biodiesel Gives Soy A Push

Fuel manufacturers could use at least 4.8 billion pounds of soybean oil this year

The biodiesel that fuels semis, farm tractors and bus fleets continues to fuel market potential for U.S. soybean oil and profit opportunities for U.S. soybean farmers, according to the United Soybean Board.

In order to meet federal biodiesel-usage requirements of 1.28 billion gallons this year, manufacturers will need 9 billion pounds of vegetable oils and animal fats. At least 4.8 billion pounds of that could be soybean oil. That's the oil from 430 million bushels of U.S. soybeans.  

Fuel manufacturers could use at least 4.8 billion pounds of soybean oil this year

"There's value for soybean farmers from the growing market use of soybean oil for biodiesel," says Gregg Fujan, a USB director and soybean farmer from Weston, Neb. "It expands the market for our soybeans, which also increases the price we receive."

According to research commissioned by soybean farmers in Minnesota, Nebraska, North Dakota and South Dakota through their state soy checkoff boards, biodiesel contributed to a $15 billion increase in soybean-oil revenues between 2006 and 2012. Over that time period, this raised the price of soybeans by 74 cents per bushel. 

Biodiesel qualifies with the Environmental Protection Agency as an Advanced Biofuel. Under the federal Renewable Fuel Standard, at least 1.28 billion gallons of biodiesel will be produced in the United States in 2013.

Source: USB

TAGS: Soybean
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish