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.
…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...