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.
The crush margin declined, dropping 9% to $1.95 per bushel. Lower soybean costs were more than offset by reduced amounts received in soybean oil and soybean meal sales. The value received from oil and meal sales, per bushel of soybeans crushed, dropped by 55 cents per bushel, while the price of soybeans declined by 35 cents per bushel. This allowed the estimated margin to drop by 20 cents per bushel. At $1.95 the margin…