In 2022, renewable diesel (RD) utilization (based on product supplied) surpassed biodiesel (BD) use. For Q1 of 2023, RD has extended the gap. This is not surprising given the rapid expansion of RD capacity in the past couple of years.
What also was expected, but perhaps still slightly surprising when looking deeper, is the regional growth in RD demand. With the growth of RD, in 2022 petroleum diesel consumption in the western U.S. (California, Oregon, Washington, Arizona, and Nevada) was its lowest since 2002, and is trending lower as RD use expands. For the first four months of 2023, petroleum diesel use in the west has continued to decline. Note, this region has California’s Low Carbon Fuel Standard, and Oregon’s and Washin...
What You Need to Know Today: Market attention is shifting toward Tuesday’s USDA WASDE report, with analysts anticipating a modest reduction in U.S. corn production estimates and an increase in soybean production. The report could provide fresh direction for grain markets as traders reass...
Key Takeaways: WPI’s forecasts call for physical U.S. soybean crushing margins to weaken over the next four months and average $4.44/bushel by late February, while CBOT futures margins should rise modestly to about $2.40/bushel. A key catalyst for this is the expectation that U.S...
The election is over – for the most part. Counting is still underway in some states, including Alaska, where a ranked-choice voting system is in place for the Senate race, and Mississippi, as well as in some House districts. But as of now, Democrats have secured at least 54 Senate seats,...
