11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
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Demand has not sufficiently improved and sellers have held prices steady to last week. Milk prices continue to be strong which normally would be bullish for blood meal prices. However, end-users appear to still have adequate inventory on hand, particularly in the West. There seems to be more interest starting to surface but has not yet been followed up with new orders. It is reasonable to think that the risk is higher for prices during the next…