Comment Log Display

With regard to the chart appearing on page 39 of presentation to
LCFS workshop today.

•  The axis label states "million acres of soybeans crushed
annually". This is misleading. 87.5 mln acres relates to production
of the entire 4,276 mln bu soybean crop.
.  USDA is estimating soybeans crushed at 2,245 mln bu., or 52.5%
of the soybean production. The balance 1,990 mln bu is forecast to
be exported as whole soybeans. Of the soybean oil produced from
crush in 2022, approximately 55% is used in foods and 45% is used
in biofuels.
•  If the chart is intended to relate to soybean utilization in
2022, the total harvest from 87.5 mln acres can be divided into
41.5 mln acres of soybeans for export, 25.3 mln acres for soybean
oil for food uses, and 20.7 mln acres for soybean oil for
biofuels.
•  The projected 600 to 700 mln bu/yr increase in soybean crush
capacity (referenced on page 40), will draw primarily from the
export residual of soybeans without requiring additional
production. US does not have to grow more to crush more. The
increase in capacity would raise crush to 67% if production is the
same.  
•  Further increases in U.S. soybean crush would be constrained to
avoid over production of soybean meal for domestic and export
consumption. 

Original File Name:

Date and Time Comment Was Submitted: 2023-02-22 12:19:33