When petroleum diesel prices rise, renewable diesel and biodiesel become more competitive. As the crude oil price has climbed in the weeks since the beginning of the war in Iran, soy oil prices have followed suit. However, it’s not just the war that is causing price movement to the upside. In March, the EPA finalized its RFS rule, mandating the highest biodiesel and renewable diesel blending volumes in history for 2026–27. This has led to another boost in demand for domestically produced soybean oil.
Matt Bennett is the CEO and co-founder of AgMarket.Net and he says the soybean crush in the United States has lit a fuse under the soy oil market.
Bennett says other oils have benefitted from the price spike for crude oil.
He adds that many countries around the world are attempting to lower fuel prices by turning to domestic feed stocks.
For more information visit www.agmarket.net
