ULSD heating oil futures soared to an all-time high of $4.67 per gallon on Wednesday March 9. The Intraday high was 24 percent above the prior week’s close and helped propel biodiesel prices higher for the week. Margins benefitted from the runup in prices and hit levels not seen since November of last year.
Improved margins could be short lived as ULSD futures are falling as fast as the climbed. The intraday high reached on March 9 did not hold as values settled at $3.46 per gallon and continued falling through the week. The weekly closing price of $3.42 per gallon was nine percent below the prior week’s close and could signal some margin contraction for the week ahead if biodiesel prices continue to fall and soybean oil costs remain stable.
Central IL crude degummed soybean oil prices have increased from 56 cents per pound at the beginning of…
12.12.2024
California LCFS credit volumes rise, prices fall week on week
California Low Carbon Fuel Standard (LCFS) credit volumes were up sharply while the average credit price declined in the week ended Sunday December 8, figures released on Wednesday December...
12.12.2024
Grease prices continue to soften while Gulf UCO trades stable to higher
The US animal fats and oils markets continued to show mixed dynamics on Thursday December 12, with tallow markets remaining notably quiet while grease prices continued to soften across...
12.12.2024
Looming port strike adds negative price risk to animal protein markets: sources
Negative sentiment continued to hang over the meat and bone meal (MBM) markets on Thursday December 12, although trading reports were limited throughout the day.
Much of the...