Spot market trading was sluggish on Tuesday due to weak margins and talk of a slowdown in U.S. renewable diesel production due to upcoming plant downtime. Renewable Identification Numbers (RINs) also dropped again on Monday. Crude corn oil indications in the Midwest were reported in a range from the mid- to upper 50 cts/lb.
“RBD soybean oil is definitely under some pressure, but it feels like we’ve found a floor,” said one trader. Demand from the food and biodiesel/renewable diesel sectors for soybean oil and other feedstocks like corn oil has been lighter than expected. Margins have been in the doldrums, and many of the largest producers are reportedly well covered through the first quarter of 2024.
…
09.13.2024
Haffner Energy to spin off SAF division as independent company
French-based technology company Haffner Energy will spin off its sustainable aviation fuel (SAF) division into an independent entity called SAF Zero, the company announced on Friday September 13.
09.13.2024
Animal fats and oils markets end week stable to lower as SBO, HO continues decline
Prices for used cooking oil (UCO) were slightly lower on Friday September 13, as the heating oil (HO) and soybean oil (SBO) markets continued to slump, closing out the...
09.13.2024
Lackluster trade volume keeps most animal proteins flat
A quiet tone was noted by most market sources in the US animal proteins market for the week to Friday September 13. The only price adjustments were on bloodmeal,...