Crude prices were down over $2 per barrel intraday before seeing a slight recovery and closing at $43.25, down $1.88 per barrel. Heating oil moved nearly 3 cents per gallon lower to $1.56 per gallon in the front month contract. Soybean oil countered by dropping 33 basis points, which, as fare as the BO-HO spread is concerned, mostly offset the HO move, leaving the BO-HO nearly unchanged at 64.8 cents per gallon.
Biodiesel RINs continue to…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...