Thursday’s USDA report indicated more soybean oil is going into biodiesel. USDA Chief Economist Seth Meyer credits the interest in renewable diesel fuel. “It will be interesting to see how this industry evolves between renewable diesel production and more traditional fame production which is the smaller plants in the Midwest and we going to see additional competition between these folks?” queried Meyer. “In the short run, it was an upward revision in overall soybean use for biodiesel.”
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