WTI Crude and ULSD prices edged one percent lower last week. WTI values dipped from $61.42 per barrel to$ 60.97 and ULSD slipped a penny per gallon to $1.81. Soybean oil prices fell three percent, but the decline conceals the volatility seen in vegetable oils. Soybean oil price dropped from 53.87 cents per pound to 52.48, but not before prices climbed to 57.48 midweek.
Feedstock (soybean oil) prices fell more than ULSD prices for the week, which allowed the bean oil/heating oil spread (BOHO) to narrow from $2.14 per gallon to $2.05. Biodiesel RINs have been trading near all-time highs. On March 16, the 2021 biodiesel RIN reached $1.51 surpassing its previous high of $148.50 in July of 2013. Last week, some of the pressure was taking off biodiesel RIN values with the BOHO moving lower. The 2021 biodiesel RIN declined three…
11.15.2024
October soybean crush reaches all-time monthly high; biofuel demand limits rise in soybean oil stocks
The National Oilseed Processors Association (NOPA) reported the October soybean crush at a record monthly high of 199.9592 million bushels, eclipsing the previous record of 196.406 million bushels set...
11.15.2024
UCO 2025 market clouded by China’s cancellation of export rebate
China will cancel its current 13% export tax rebate for used cooking oil (UCO), a key biofuel feedstock, effective December 1, the country’s Ministry of Finance and the State...
11.15.2024
US animal protein prices steady to firmer week on week; SBM under pressure
The US animal proteins market was steady to higher in the week to Friday November 15. Even with decreases in Chicago Board of Trade (CBOT) soybean meal futures, prices...