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.
Est. Crush Margin Moves Lower as Co-Product Revenues Fall
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…