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Survey: many farmers expect renewable diesel to boost soybean prices

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Nearly 90 percent of farmers surveyed in the latest Ag Economy Barometer expect a growing renewable diesel industry to boost soybean prices in the next five years.

Jim Mintert is the survey’s principal investigator and director of Purdue’s Center for Commercial Agriculture.

“Thirty-nine percent said that they expect to see an increase in soybean prices of up to 50 cents per bushel out of renewable diesel,” he says. “Twenty-eight percent said that they expect to see a price increase of 50 cents up to $1 per bushel.

Survey: many farmers expect renewable diesel to boost soybean prices