11.22.2024
Biodiesel margins rise, but window of opportunity limited
Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.
US crop conditions for soybeans and corn were unchanged in the week to Sunday September 22, according to the US Department of Agriculture’s weekly crop progress report released on Monday September 23.
Corn
Corn dented was reported at 92%, up by 7 percentage points from the previous week’s total but down by 2 percentage points year on year.
Corn maturity was reported at 61%, up by 16 percentage points from the previous week but down by 4 percentage points from last year’s figures.
Corn harvest is under way in 16 states, standing at 14%, up by 5 percentage points from last week and up by 1 percentage point from last year.
Corn conditions were at 65% good to excellent, in line with last week’s figures and above the 53% good-to-excellent rating last year. The 2024 crop rated in poor-to-very-poor condition was in line with the previous week’s figure at 12% but down from 18% a year earlier.
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