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.
Corn:
The corn crop has fully matured. The harvest is 72 percent complete, up 12 points from last week and 16 points over the historical norm. 10.73 billion bushels have been harvested with 4.17 billion bushels remaining. Several large corn producing states like Iowa, Nebraska, North Dakota and South Dakota are well ahead of their traditional harvest pace and are carrying the national average higher. There are eight out of 18 reporting states that trail their average pace, with Ohio being the furthest behind, trailing by 20 points.
Soybeans: …