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 supply chain disruption that is currently underway in India, is impacting organic soybean meal prices but this is not helping suppliers or consumers. Organic soybean meal prices FOB India have slipped to 620 per metric ton FOB India, but transportation has climbed offsetting some of the losses. The Jacobsen has heard prices in the high 700 to low 800s depending on the mid-west location and slightly lower in PA. It appears that the India soybean meal that has reached the US has landed in Baltimore, but little has arrived in California.
COVID infections continued to accelerate in India. India reported a record spike in coronavirus cases On June 18. The 12,881 new infections registered, was the first time India’s daily tally has exceeded 12,000. The Health Ministry confirmed a total of 160,384 active cases. Merchandisers are reporting that the port activity is approximately 15% of normal. Apple Mobility shows that the driving movement in India is down 46%…