The U.S. produced 170 million gallons of biodiesel in October, up 4 percent from September and 1 million gallons shy of tying August’s record volume. Monthly production was up 15 percent from October 2017. Processors used 699 million pounds of soybean oil, up 21 percent year over year. Yellow grease and corn oil also saw notable rises in use. Canola oil utilization remained significantly lower compared to last year.
November and December biodiesel production tends to hold steady around October’s volume, and soybean oil pricing has remained very attractive. It’s possible we could see a new record set in December for soybean oil utilization.
Biodiesel feedstock utilization