WTI Crude increased 19 percent this week, settling at $29.43 per barrel. This a nine-week high for crude, but prices remain 53 percent below levels from a year ago. Heating oil values loosely followed, rising 2.4 percent for the week and reaching a four-week high. Heating oil prices are 56 percent lower than they were at this time last year.
Biodiesel’s most widely consumed feedstock, soybean oil, remained relatively stoic. Prices moved fractionally higher, closing at 26.58 cents per pound, which is 2.4 percent lower than last year. The bean oil/heating oil spread (BOHO) benefited from the rise in heating oil. The spread finished the week at $1.03 cents per gallon, down two cents from last week’s close.
Biodiesel RINs ended the week ¾ of a cent higher for the 2019 RIN and 1.25 cents for the 2020 RIN. Ethanol RINs closed the week mixed with the…
12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
12.20.2024
US animal fats and oils end week softer across the board ahead of holiday slowdown
Prices for US animal fats and oils ended the week on a lower note on Friday December 20, with most markets trending downward ahead of the upcoming holiday week,...
12.20.2024
December cattle on feed down on month, year
Most US animal protein prices were rangebound for the week, though in wider ranges due to the impending Christmas and New Year's holiday closures.
The only significant price...