U.S. Soybean Farmers See Return on Investment from Biodiesel Production

According to the U.S. Energy Information Administration – the U.S. biodiesel industry produced 1.36-billion gallons of biodiesel last year – which is 37-percent more than in 2012. The EIA reports that production required the use of at least 5.5-billion pounds of U.S. soybean oil – which is the volume of oil from more than 468-million bushels of U.S. soybeans. Research shows demand for U.S. soybean oil increased soybean value by 74-cents per bushel from 2006 to 2012. United Soybean Board Director Rob Hanks says U.S. soybean farmers have been very supportive of biodiesel for more than 20-years – and it’s gratifying to see those farmers reaping the benefits of that support.