Weekly credit volume was down 73 percent from the prior week, hitting a three-week low of 52,380 credits transacted. The weekly volume was 86 percent below the 2020 average and 51 percent below the same weekly period in 2019. The average price paid per credit increased $2.98 to $200.46. There were 16 transactions, 12 were type 1 transfers of 31,480 credits and eight were type 2 transfers of 20,900 credits. Type 1 transactions are trades executed within 10 days of a transfer agreement. Type 2 transactions are executed beyond 10 days of a transfer agreement. Type 1 transactions give a clearer picture of where the market is currently trading since Type 2 transactions do not give a date the agreement was entered into. The weighted average price for type 1 trades was $203.96, which was $3.50 over the average price of all trades. Second quarter volume is 87 percent over first quarter volume and 224 percent over Q2 of…
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...