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 corn prices continue to move higher in the mid-West, as demand for organic poultry and higher consumer prices support gains in organic feed grains. Merchandisers tell The Jacobsen that prices have moved up to $9.50 delivered in many locations in the mid-West. Prices are closing in on $12 per bushel on the East Coast, driven by poultry demand. Organic corn on the West Coast is still offered near $430 per short ton.
Prices in Quebec have traded above $9.30 per bushel, and with the Canadian dollar increasing in value relative to the Greenback (the U.S. dollar), prices should continue to experience tailwinds. Shipping costs also continue to elevate organic corn prices. Merchandisers tell Fastmarkets/ The Jacobsen that the cost per mile has hit $5 per load in some locations (but most is averaging closer to $4 per load.
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