Reuters — U.S. grain handler CGB Enterprises and farmer co-operative Minnesota Soybean Processors are building a soy processing plant in North Dakota, the second new crushing facility announced in the state this year. The plant — which will be built near Casselton, about 25 km west of Fargo — is expected to crush 42.5 million […] Read more
Tag Archives biodiesel — page 3
CGB, soy grower co-op to build North Dakota crushing plant
U.S. EPA proposes biofuel mandate cuts
Proposal seen as boost to pandemic-hit refiners
New York | Reuters — The Biden administration proposed on Tuesday a reduction in the amount of biofuels that U.S. oil refiners were required to blend into their fuel mix since the onset of the COVID-19 pandemic. The long-awaited decision offers some relief to the U.S. refining industry after the health crisis slammed domestic demand […] Read more
U.S. grains: Soybeans up on firm cash markets, vegoils
Corn, wheat futures sputter
Chicago | Reuters — U.S. soybean futures ended higher on Tuesday for a fourth straight session, with the benchmark November contract touching a one-week top on firm cash markets and global demand for vegetable oils, analysts said. But Chicago Board of Trade corn and wheat futures closed lower, sagging after a choppy session. CBOT November […] Read more
ICE weekly outlook: Canola feeling the energy
Canola riding on fuels' bullish momentum
MarketsFarm — ICE Futures canola contracts moved steadily higher over the week ended Wednesday, hitting the top-end of a three month trading range. While tight Canadian supplies due to a Prairie drought have underpinned the market for some time, the latest strength and any future direction may be more closely tied to movement in energy […] Read more
U.S. EPA recommends lowering 2020 biofuel mandates retroactively
Agency not confirming or denying sources' statements
Reuters — The U.S. Environmental Protection Agency has recommended retroactively lowering biofuel blending mandates for 2020, two sources familiar with the matter said, after the agency on Thursday sent a proposal on the mandates to the White House for review. The move could provide immediate relief to oil refiners that have to comply with the […] Read more
Imperial Oil lays out Alberta renewable diesel plan
Company would use 'locally grown' canola, soybean oils
Reuters — Imperial Oil, one of Canada’s biggest oil producers and refiners, on Wednesday outlined a plan to process vegetable oil into renewable diesel at its 191,000-barrel-per-day Edmonton-area refinery. The project, which still requires final approval, is part of majority-owner Exxon Mobil’s goal of producing more than 40,000 barrels per day of low-emissions fuels by […] Read more
U.S. grains: Soy, corn slide on macroeconomic fears, biofuel worries
CBOT, MGEX December wheats also down
Chicago | Reuters –– U.S. soybean futures fell to their lowest in nearly two months on Friday and corn set a near one-month low on macroeconomic concerns along with beneficial rains in the western Midwest and Plains, analysts said. Soyoil futures fell more than five per cent on reports that the U.S. Environmental Protection Agency […] Read more
Fuel firm Marathon buys in on ADM soy crush plant
Marathon to process biodiesel from North Dakota plant's soy oil
Reuters — Marathon Petroleum and ADM announced on Thursday a joint venture to produce soybean oil that will be exclusively sold to Marathon for its renewable diesel plant. Refiners are on the hunt for secure access to feedstocks for renewable fuels amid supply constraints and soaring prices for fats, greases and oils. A joint-venture soybean […] Read more
U.S. Supreme Court backs refineries in biofuel waiver dispute
Top court overturns ruling against EPA granting waivers
Reuters — The U.S. Supreme Court on Friday made it easier for small oil refineries to win exemptions from a federal law requiring increasing levels of ethanol and other renewable fuels to be blended into their products, a major setback for biofuel producers. The justices overturned a lower court decision that had faulted the U.S. […] Read more
U.S. refiners amass biofuel liability as Biden mulls relief
Open RIN positions could hit refiners' earnings
New York | Reuters — U.S. merchant refiners have amassed up to a US$1.6 billion shortfall in the credits they will need to comply with U.S. biofuel laws, according to a Reuters review of corporate disclosures, an apparent bet that the Biden administration could let them off the hook or that credit prices will fall. […] Read more
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