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.
The USDA published the 30th crop progress report for the 2024 growing season on Monday October 21, covering data in the week to Sunday October 20.
Corn
Corn maturity was reported at 98%, up by 4 percentage points from the previous week and up by 1 point from last year’s figures.
Corn harvest was reported at 65%, up by 18 percentage points week on week and up by 10 points from last year and the five-year average.
Soybeans
Soybean harvest was reported at 81%, up by 14 percentage points week on week and up by 9 points from last year and the five-year average.
Winter wheat
Winter wheat planting was reported at 73%, up by 9 percentage points from the previous week but down by 1 point year on year.
Winter wheat emerged was reported at 46%, up by 11 percentage points week on week but down by 3 points year on year.
…