Ag Resource Company President Dan Basse believes the push toward renewable diesel will be the most disruptive factor in agriculture for the next few years. “With states like California providing tremendous subsidies and mandating 700 million gallons of usage, you can see how quickly this is all ramping up.” This policy change will have a dramatic impact on the soybean oil market. “If I take the existing, under construction and proposed or announced plants, I come up with U.S. soybean oil demand doubling in the next three years.” If these soybean crush plants all come online, Basse said the U.S. will need an additional 40 million acres of soybeans to meet the demand. During the Farm Foundation Forum, Basse said it seems impossible to see that kind of growth, but this demand factor will significantly change the agricultural landscape.
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.