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.
Organic corn imports declined in the last four months of the marketing year. Only two exporting countries show organic corn cargoes declared during the period: Argentina and Canada. Overall organic corn imports declined by 29% compared with the previous four months.
The volume of organic cracked corn imported over the period is not clear, but this volume is also expected to show declines.
Canada has long established an export cadence that is generally very consistent. Organic grain exporters in Canada typically ship between 4,000-5,000 tonnes of organic corn to the US each month.
Romanian organic corn exports totallng 29,718 tonnes were imported into the US in May, but no further shipments have originated in Constanta.
Romanian organic corn harvest declined this year after substantial drought and heat scorched the crop and diminished yield potential.
Romanian…