04.24.2024
Biodiesel output strong in Q2; producers start locking in Q3-Q4 sales
A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
Biodiesel Activity
Crude rallied over a dollar per barrel to $53.29 and looks ready to test recent resistance at just over $54 per barrel. HO was caught in the updraft gaining nearly 2 cents per gallon. A weaker US Dollar helped support commodities as soybean oil also moved higher, adding 26 ticks to 31.30 cents per pound. The moves higher in HO and SBO canceled one another out leaving the bean oil/heating oil spread at 50 cents per gallon.
RINs were…