Policy frameworks to support the decarbonization of the transportation sector are driving growth in renewable fuels markets, increasing demand for U.S. soybeans as a sustainable input to production. As the renewable fuels market continues to develop and grow, led by California, new opportunities for U.S. farmland investors are emerging.
In this paper, we examine policies that incentivize renewable fuel production in the U.S. and focus on the recent rise in renewable diesel production, which has grown from 533 million gallons in 2020 to a projected 3.2 billion in 2024. We analyze soybean oil’s use as a renewable diesel feedstock and the additional demand that has created for soybeans and the agricultural land they are grown on.
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