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AG ECONOMIST DAN BASSE FORECASTS 8.5-9 MILLION MORE ACRES OF SOYBEANS NEEDED IN THE U.S.
Nov. 9, 2022
Agri-Pulse reports:
Agricultural economist Dan Basse says renewable diesel is poised to be a larger disruptor to the food supply chain than ethanol, with a slate of new plants poised to heavily increase competition for soybean oil.
Basse, speaking to attendees of the National Ag Bankers conference in Omaha, said he "can't figure out" how the nation will find the additional 8.5 million to 9 million acres of soybeans needed by 2025 to satisfy the demand expected from the introduction of the plants.
"The investment that's being made in renewable diesel is massive. Today, as it sits, it's very disruptive to the whole food chain."
Basse is president of AgResource Co. headquartered in Chicago, IL.
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