Biodiesel prices were lower today on weaker heating oil prices. Yesterday’s boost from tied to shipping concerns over the Suez canal blockage were nearly washed away today with heating oil settling at $1.7478 per gallon. LCFS credit prices and RINS were lower today and there is some speculation that the potential for Argentine biodiesel or Brazilian sugar cane ethanol may be making its way into the US adding to the supply. The anti-dumping duties for Argentine biodiesel from the US remain in place and according to Bloomberg, have cleared a recent legal challenge. The markets feel highly speculative at the moment on the feedstock side of the trade, the volatility has pushed a lot of buyers to the periphery while a more clear direction can be ascertained.
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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.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...