USDA invests $26 million in biofuel infrastructure

The U.S. Department of Agriculture (USDA) has announced it is investing $26 million to build infrastructure to expand the...

The U.S. Department of Agriculture (USDA) has announced it is investing $26 million to build infrastructure to expand the availability of higher-blend renewable biofuels by 822 million gallons annually across 23 states.

The investment, made on the one year anniversary of the Higher Blends Infrastructure Incentive Program (HBIIP), which the award falls under, aims to “increase the use of biofuels derived from U.S. agricultural products and prioritize climate-smart solutions”.

Biofuels are an important market for U.S. feedstock producers and are cited as contributing to energy security as well as supporting rural economic development.

Thus far, the USDA has already investmented $66.4 million USD to-date to increase biofuel sales by 1.2 billion gallons annually.

Examples of how the investment will help each state can be found here.

 

What to read next
The USDA's latest report shows that the US corn and soybean harvests have exceeded market expectations
Analyzing key drivers of demand and trade shaping soybean oil price and production trends
Explore how used cooking oil is gaining traction in the renewable fuels industry and the credit mechanisms available to producers
Fastmarkets and the Intercontinental Exchange (ICE) introduced the used cooking oil (UCO) Gulf (Fastmarkets) futures contract on November 01, 2024. This contract is linked to Fastmarkets' used cooking oil price assessment and addresses growing demand and complexity in the biofuel feedstock market. It offers market participants a valuable tool for risk management
As the US heads to the polls to vote for its next presidential candidate in what many have characterized as one of the closest races in electoral history, the energy sector hangs in the balance.
Speculators in the US corn market cut short positions, helping send the net short to the highest level since August 2023, while adding shorts in soybean and wheat contracts in the week to Tuesday October 29, data from the Commodity Futures Trading Commission (CFTC) showed late on Friday November 1.