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.
With second-quarter sales getting locked down, producers turned their attention to locking in third-quarter trades. One market participant indicated that some producers have already started working on fourth-quarter sales.
Those able to take advantage of the market have done that.
Domestic renewable diesel (RD) producers have slowed production significantly over the first quarter, with March RD output down by 22% from December. Opportune biodiesel producers, if they still had margin in operations, were able to take advantage of this, because domestic March biodiesel production was only down by 2% from December.
Not all producers agreed that market sentiment was positive.
…
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...