Soybean oil futures closed higher on Thursday May 16 amid technical buying.
The US Environmental Protection Agency (EPA) released its April update on renewable fuel and Renewable Identification Number (RIN) generation under the Renewable Fuel Standard (RFS) on Thursday afternoon. Renewable diesel (RD) and RIN production showed a sharp increase from the month prior, a likely indicator feedstock demand will rise.
The April RIN increase can be attributed to the April 2 commencement of the Rodeo Renewed RD refinery. The Rodeo refinery is expected be the third largest RD facility in the US, with its operations consuming large additional quantities of feedstock in the production of fuel. The refinery is producing about 30,000 barrels per day of RD and is expected to produce over 50,000 bpd by the end of the second quarter.
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12.27.2024
US RD, SAF supplies remain strong despite declining import volumes
US supplies of sustainable aviation fuel (SAF) fell sharply in November but reached the highest November volume on record, according to data released on Thursday December 26 by the...
12.27.2024
Animal fats and oils end week steady amid holiday-limited trades
The US animal fats and oils markets held steady on Friday December 27, with limited trades persisting due to the holiday season.
Weekly averages were unchanged from the prior week...
12.27.2024
Relative prices of US meat and bonemeal rise amid depressed soybean meal market: 2024 recap
US animal protein prices were steady to lower on Friday December 27. Some participants reported distressed loads in the market late in the afternoon of Thursday December 26 and...