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 32nd crop progress report for the 2024 growing season on Monday November 4, covering data for the week to Sunday.
Corn
Corn harvest was reported at 91%, up by 10 percentage points week on week and up by 13 percentage points year on year.
Soybeans
Soybean harvest was reported at 94%, up by 5 percentage points week on week and up by 5 percentage points year on year.
Winter wheat
Winter wheat planting was reported at 87%, up by 7 percentage points from the previous week but down by 1 percentage point year on year.
Winter wheat emerged was reported at 66%, up by 10 percentage points week on week but down by 6 percentage points year on year.
Winter wheat conditions were 41% good to excellent, up by 3 percentage points from the previous week’s figure but below the 50% good-to-excellent rating last year.
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