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.
Weekly export inspections
Export inspections of US grains showed a decline for corn and soybeans in the week to Thursday October 10, while weekly wheat volumes increased, according to data from the US Department of Agriculture released on Tuesday October 15.
Corn export inspections reached 430,323 tonnes, down by 55% from the previous week and by 8% year on year.
The top export destinations were Mexico (195,689 tonnes), Saudi Arabia (62,685 tonnes) and Honduras (50,410 tonnes).
Yellow corn made up the majority, with 422,213 tonnes passing inspections, while 8,110 tonnes of white corn passed inspection.
Soybean export inspections totaled 1.58 million tonnes, down by 3% from the previous week and by 25% year on year.
Major destinations included China (1.07 million tonnes), Egypt (88,643 tonnes), Mexico (88,314 tonnes), Italy (70,900 tonnes) and Germany (68,301 tonnes).
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