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.
Politico reported yesterday that the Trump Administration appeared set to postpone politically fraught decisions on ethanol until after the November election, in order to avoid backlash from the feuding sectors of Ag and petroleum. However, after a stop in Iowa today, the president once again found himself knee-deep in the ongoing battle.
Ag interests put the President on the spot, saying they were not willing to wait until after the election in order straighten out the small refinery exemption petitions sitting before the EPA. The President attempted to side-step the issue by citing his support for ethanol. However, Sen Joni Ernst kept pressing, saying farmers and biofuels producers needed help and certainty now. The President relented and stated “Alright. We’ll speak to them. I’ll speak to them myself. I’ll do it myself.”
Like the president, Senator Ernst is…