04.25.2024
US heating oil, distillate fuel consumption lower than usual in Q1
In the first quarter of 2024, US prices for distillate fuel oil — which includes diesel fuels for vehicles and for home heating — was lower than the...
The estimated crush margin fell two percent from last week as declines in soybean oil and soybean meal prices outpaced lower soybean costs. The margin remains near multi-year in Central IL. The value received from oil and meal sales per bushel of soybeans crushed declined from $15.96 per bushel to $15.44, while soybean prices dropped 45 cents to $11.98 cents per bushel. This allowed the margin to narrow seven cents to $3.46 per bushel. The crush margin is two percent below last week’s value but 63 percent above year ago levels.
Soybean, soybean meal, and soybean oil prices remain well supported and promoting strong margin potential for crushing. Tight supply and solid export demand have helped buoy the soybean complex. Demand from the food and fuel industries continues to underpin soybean oil values. Insufficient crushing and refining capacity are leading to new…