Another month, another record for 2018 biodiesel: Manufacturers produced 163 million gallons in July, up 18 percent from July 2017. Soybean oil and corn oil both hit new record utilization as feedstocks. Soybean oil use was 671 million pounds, up 11 percent from the previous July, and corn oil use hit 193 million pounds, up almost 50 percent from a year ago. Canola oil use fell to 97 million pounds, down 38 percent year over year.
Consumption in June, the most recent data reported by EIA, totaled 174.3 million gallons, which was higher than May but about 12 percent lower than a year ago. Overall diesel fuel use in June was also slightly lower year over year, but July’s supply to the market was up 9 percent, which might have helped lift biodiesel use as well.
Biodiesel monthly feedstock utilization