The U.S. Energy Information Administration (EIA) released its monthly Short-Term Energy Outlook (STEO) this week. The agency trimmed back both production and consumption projections for biodiesel. On the production side, EIA cut its forecast for 2019 by 7 percent and for 2020 by 9 percent versus the March report. That reduction represents about 750 million pounds of soyoil feedstock.
The April WASDE raised projected biodiesel use of soyoil for the 2018/19 crop year by 150 million pounds from the March projection to 8.35 billion pounds, which is generally in line with EIA’s calendar year-based estimate for 2018. While the EIA reduced its production forecasts for this year and next based on lower Renewable Identification Number (RIN...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
