US renewable diesel bubble begins to burst as costs spark pullback
A farmer harvests soybeans in a field along the Mississippi River on October 17, 2022 near Wyatt, Missouri.(Photo by Scott Olson/Getty Images)
The US renewable diesel rush is losing steam as soaring costs eat into profits, prompting the world's top crop trader and North America's largest energy company to pull back on planned investments.
Agricultural behemoth Cargill Inc. said it has suspended plans to build a giant soybean-processing plant that would have provided feedstock to the renewable diesel industry due to "shifting market dynamics."
