A growing biodiesel and renewable diesel industry adds value to soybean oil, ultimately benefiting the farmers raising the crop.
Dave Walton raises soybeans, corn, alfalfa, and mixed hay and pastures in Wilton, Iowa.
“It brings a lot of value back to the farmgate for us,” he says. “It adds about 17 percent to the price of soybeans. On today’s market, that’s almost $1.45-$1.50 per bushel that’s directly to biodiesel.”
And, he says the return is especially critical as farmers continue to face rising production costs.