Biodiesel Activity

Crude oil hit fresh 6 year lows before recovering ground later in the day. Heating oil futures went along for the ride hitting a low of $1.60 per gallon, and then climbing back to $1.633. This was still down about two cents from yesterdays close and pushed the soybean oil/heating oil spread to roughly 75 cents per gallon. Soybean oil had been higher on the day, but a climbing dollar has been weighing on commodities and helped push most commodities…