The U.S. Energy Information Administration (EIA) published its Monthly Energy Review report on December 21st, 2023 and its Monthly Biofuels Capacity and Feed Stocks Update Report on November 30th, 2023. In this article, we will conduct a descriptive analysis of pure biodiesel (B100) production and its feedstocks usage.
IMPLAN's newest dataset was released at the end of November 2023. This dataset, based on 2022 data, is the most recent snapshot of economic activity by industry at the national, state, and county level.
Data released this month by USDA-FAS indicates U.S. pork exports were up 8% to 2.32 million metric tons (MT) in the 2023 calendar year compared with last year (see Figure 1). The value of those exports was estimated at $6.79 billion. U.S. pork exports to Mexico, the leading market, reached an all time record volume of 941,477 MT worth $2.05 billion.
RIN prices have come down significantly in the last 9 months. To be competitive, biofuel producers need to be able to sell their fuels at the same price as conventional petroleum fuels. Typically, biofuels have higher costs of production than conventional fuels.
Soybean oil prices increased almost three times more in the summertime of 2021 compared to prices before 2021. Soybean meal price rose back to $493 per ton at the end of 2023, then fell back to $374 per ton in March 2024. Historically, a little over two thirds of the total value of soybean crush products came from soybean meal and the remaining one third came from soybean oil.
Agriculture is a favorite target among those looking for somewhere to place blame for greenhouse gas emissions. However, recent research from the Environmental Protection Agency (EPA) shows that agriculture has made more progress in cutting emissions than any other industry in the US.
Every 4-5 years our Team gets a wave of requests to estimate the economic contribution of agriculture for a number of organizations in many states in the Midwest and beyond.
