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.
Organic soybean prices remain buoyed. There are some pockets of the country attempting to phase in higher prices, but that is more of an exception than the norm. Organic soybean prices are mostly trading around $32. Organic Indian conventional soybean prices dipped below $1,000 per metric ton for the first time in 3-weeks. While lower prices are a welcome sight to many, the increase in FCL shipping rates drives up the delivered organic soybean meal price. Exporters tell The Jacobsen that rates from India to Baltimore or Oakland are up to 263 per metric ton. At $1100-$1150 per metric ton for organic soybean meal, the CNF price could be as high as $1,413 per metric ton.
The Weather Forecast in India
Monsoonal precipitation in India is on the horizon and could only be a week away. According to sources, “neutral ENSO conditions coupled with a short-term bout of negative Indian Ocean…