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 13, while corn conditions were unchanged, according to the USDA’s weekly crop progress report released on Tuesday October 15.
Corn
Corn maturity was reported at 94%, up by 7 percentage points from the previous week and up by 1 point from last year’s figures.
Corn harvest was reported at 47%, up by 17 percentage points week on week and by 5 points year on year.
Corn conditions were 64% good to excellent, which was in line with the previous week’s figures and above the 53% good-to-excellent rating last year.
The 2024 crop rated in poor-to-very-poor condition was at 12%, down by 1 percentage point from the previous week’s figure and down from 18% a year earlier.
Soybeans
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