Biodiesel Board Establishes Overly Ambitious Goal This week the National Biodiesel Board (NBB) held its annual meeting. As part of that meeting the organization established a goal of producing 6 billion gallons of biodiesel in the U.S. by 2030 and 15 billion gallons by 2050. Any industry should establish ambitious future goals, but the goals should be achievable. While the volume of biodiesel produced in the U.S. in 2019 is not yet known, production in 2018 totaled 1.823 billion gallons. The amount of fats and oils required to produce 1.823 billion gallons of biodiesel was approximately 13.49 billion pounds (6.119 MMT). It would take 44.4 billion pounds (20.14 MMT) of fats and oils to produce 6 billion gallons or an increase of 30.9...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
From WPI Consulting
Weighing in on strategic realignment
WPI’s team was retained by the governing board of a U.S. industry organization to review a decision, reached by vote, to invest significant assets into the development and management of an export trading company. WPI’s team conducted a formal review of this decision and concluded that the current level of market saturation would limit the benefits of the investment. Based on WPI’s analysis and recommended actions, the board subsequently reversed its decision and undertook a strategic planning effort to identify more impactful investments. On behalf of numerous clients, WPI has not only assisted in identifying strategic paths but also advised their implementation.