The U.S. sector consumes 1.2 billion bushels of soybeans annually, but they are also being used in more than 1,000 other industrial applications
By Sean Pratt, Reporter/Analyst, The Western Producer
SASKATOON — The U.S. soybean sector has reached an inflection point where more oil will be used for fuel than food in 2026-27.
Courtney Knupp, chief executive officer of the United Soybean Board (USB), said 54 per cent of the oil produced by crushers will be consumed by the biofuel sector, up from 48 per cent last year.
“Now that’s demand that farmers can count on,” she said during a recent webinar hosted by Agri-Pulse. Biodiesel and renewable diesel plants consume about 1.2 billion bushels of soybeans today, up from fewer than 100 million bu. 20 years ago.
“It’s a market that didn’t exist until soybean farmers invested their check-off dollars in it,” said Knupp.
“That’s what a calculated bet looks like when it pays off at the farmgate.”
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