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.
Market Update
May corn futures were higher by $0.2275/bu to $7.56, May soybeans up $0.1450/bu to $16.86, and May soybean meal was higher by $9.00/st to $483.70. Meanwhile, wheat retracted due to reports of reversals in the market, with a decline or $1.1450/st to $10.87.
Year-to-Date Average Ethanol Production Over 2021
Weekly ethanol production rose last week, climbing 31 thousand barrels per day to a 1.028 million barrel-per-day average for the week ending March 4, 2022. The production increase was above analyst expectations that ranged between 977,000 and 1.01, averaging 993,500 barrels per day. Ethanol output was 3.1 percent above last week and remains above year ago levels, with a 9.6 percent climb. The escalation in ethanol production also amplified DDGS output by 2,948 metric tons (MT) per day to 97,771 MT. Production remains…