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.
Higher Soybean Prices Pressure Crush Margin to 5-Week Low; NOPA to Release Oct Crush Data
The estimated crush margin declined on a weekly basis in Central IL, reaching a 5-week low as soybean prices raced to a multi-year high. The value received from oil and meal sales per bushel of soybeans crushed increased from $13.27 per bushel to $13.44, but could not keep pace with a 4.5 percent climb in soybean prices that lifted values 49 cents higher to $11.45 per bushel. This caused the margin to narrow 32 cents to $1.99 per bushel.
Soybean, soybean meal and soybean oil prices remain well supported relative to last year. Strong cash market gains and export demand have pushed soybean prices to levels not seen since 2016. Soybean prices are 25 percent over last year’s value, soybean oil is 23 percent stronger, and meal prices are up 27 percent relative to last year. Despite this week’s margin decline, the crush margin…