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.
Selling across Commodities Drives Veg Oil Prices Sharply Lower
Edible oil prices opened the week more than two percent lower, weighed down by broad selling across commodities markets. The soy complex also continued to retreat amid the slow return of United States Gulf grain shipping terminals damaged by Hurricane Ida and favorable weather in the Midwest growing region. Forecasts call for cool temperatures and rain for many regions of the Corn Belt, including Illinois and Iowa, this week, as crops near maturity.
After the market close on Monday, in its Crop Progress report, the United States Department of Agriculture (USDA) showed six percent of soybeans had been harvested as of the week ending September 19, up from five percent during the same week in 2020 and flat to the four-year average. USDA also said 56 percent of the crop was rated good or excellent during the week ending September 19, down from 57 percent…