Earnings from renewable diesel producers were out in force this week. Things started with CVR Energy reporting that they were going to pause on starting up their 100 million gallon per year Wynnewood facility. Their CEO reported that feedstock prices were too high and that their margins on producing RD from soybean oil were negative. CVR went on to say, they received approval for their Coffeyville facility (75 mmgy) but that was also going to be put on hold until the feedstock situation worked itself out. With those two projects paused, CVR mentioned that they would just be sizing their pretreatment operation to the size of Wynnewood.
Phillips 66 announced they reached full production rates of 8,000 barrels per day of renewable diesel from the hydrotreater conversion at Rodeo. Full conversion of the facility is expected in 2024 and upon completion, Rodeo will have over 50,000 barrels per day of renewable fuel production…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...