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US still needs feedstock imports to meet higher renewable mandate
CoBank said biomass-based biodiesel RVO totals 8.86 billion RINs and that 2025-26 soybean oil imports are already running at 170,000 tonnes.
CoBank said in its latest quarterly report that the US still needs to import feedstocks to meet the higher renewable volume obligation (RVO), even after 17 months of record soybean crush, according to World Grain.
World Grain reports that since the RVO was released in March, feedstock use for biofuels has risen, but it remains below the higher levels seen in 2024. CoBank said soybean oil is winning the feedstock pool for biomass-based biodiesel and that imports are still needed to reach the RVO target of 8.86 billion renewable identification numbers (RINs) for biomass-based biodiesel.
CoBank also pointed to used cooking oil imports increasing in recent months, with the potential to near the record levels seen in 2024-25, World Grain reported. It added that US soybean oil imports for 2025-26 reached 170,000 tonnes, above 164,000 tonnes imported during all of 2024-25, and some estimates put the total at 230,000 tonnes by the end of the market year.
World Grain further reports that CoBank said ethanol producer margins have moved higher, supported by 45Z tax credit values, and noted that facilities will seek to maximize production because output determines the credits. CoBank said this dynamic is expected to push ethanol production higher ahead of the 2029 tax credit expiration.