Ag News Sample Article

Title: Bunge, Chevron Ag Renewables announce new oilseed processing plant

Bunge and Chevron approved a final investment decision to build an oilseed processing plant to meet growing renewable feedstock demand.

The companies created their joint venture, Bunge Chevron Ag Renewables LLC, with the new plant to be built on the Gulf Coast in Destrehan, Louisiana.

The plant, expected to begin operations in 2026, will be able to process soybeans, winter canola, and CoverCress, the companies said in a joint press release on Monday.

Bunge and Chevron’s joint venture comes as renewable fuel processing margins sink as renewable diesel becomes oversupplied.

The price of compliance credits for biomass-based diesel tumbled significantly amid record-high credit generation through renewable diesel production

Soybean oil is the leading feedstock for renewable diesel, which has incentivized record crushings for domestic usage.

The new crush plant is also intended to support feed and protein markets through meal production, according to the press release.