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 declined in the week to Sunday October 6, while corn conditions were unchanged, according to the USDA’s weekly crop progress report released on Monday October 7.
Corn
Corn maturity was reported at 87%, up by 12 percentage points from the previous week and in line with last year’s figures.
Corn harvest was reported at 30%, up by 9 percentage points from the previous week but down by 1 percentage point year on year.
Corn conditions were 64% good to excellent, which was in line with the previous week’s figures and was above the 53% good-to-excellent rating last year.
The 2024 crop rated in poor-to-very-poor condition was at 13%, up by 1 percentage point from the previous week’s figure but down from 18% a year earlier.
Soybeans
…