During the last full week of October, indications for spot crude corn oil in the Midwest shot higher on increased buying, settling into a range of about 68-69 cts/lb FOB as of October 31. This was up more than 11 cts/lb from market assessments early last week. Crude corn oil at the spot market was said to have traded as high as 70 cts/lb at the end of last week but in limited volume.
Over the last few weeks, corn oil and other feedstock prices had been declining sharply. Demand in the U.S. interior from the biodiesel and renewable diesel sector dropped off due to a combination of plant downtimes and previously extended coverage. Also, prices for renewable Identification numbers (RINs) crumbled below $1.00/ per gallon, and this continues to dent margins.
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10.18.2024
RIN prices fall week on week despite lower reported US biodiesel output
Prices for renewable identification numbers (RINs) fell week on week on Friday October 18 despite lower production reported for September, and US biofuels markets remain in limbo over awaited...
10.18.2024
US DCO prices decrease amid quiet trade week
US animal fats and oils markets ended the week stable to slightly lower on Friday October 18, following a quiet week of trading as many participants attended the American...
10.18.2024
Lackluster trade volume keeps weekly US animal proteins prices mostly steady
US animal proteins prices were steady to slightly lower for the week to Friday October 18 on limited trade volume.
Several market participants told Fastmarkets it was a...