The great soybean oil price collapse expected by many has failed to materialize. Increased soybean oil supply due to the recent harvest, combined with declining demand from the biofuel industry due to uncertain economics and a lack of guidance surrounding the 45z credit, was expected to have a negative impact on the soybean oil price.
The soybean crush registered an all-time monthly high in October, which increased soybean oil supply, while US biodiesel and renewable diesel (RD) production moved rapidly lower.
This had many traders expecting lower soybean oil prices, but that failed to happen.
Strong export demand continued to underpin soybean oil price at a time when the biofuel sector has taken a break from soybean oil purchasing.
…
12.10.2024
September renewable diesel shipments to West Coast reach new high
September interregional shipments of biodiesel to the West Coast were down, while flows of renewable diesel (RD) to the region reached a six-month high, monthly data released on November...
12.10.2024
Gulf UCO prices continue to rise, Midwest fats remain ‘soft’
Prices for used cooking oil (UCO) delivered to the US Gulf Coast continued to climb on Tuesday December 10, even as markets softened in other regions.
Sizeable volumes...
12.10.2024
Bloodmeal prices rise with strong demand
Ruminant bloodmeal traded higher late Monday and on Tuesday December 10, up to $1,200 per short ton FOB Missouri River.
The move comes due to increased demand and...