While the pandemic has a grip on much of the country, some market levers have seemed to recover. WTI crude prices are 37 percent over values during the first week of the pandemic and at their highest point since the beginning of March. Heating oil prices are also up more than nine percent since the pandemic announcement, and soybean oil prices are 22 percent higher. Gasoline supply increased by six percent during the past week and is almost at levels seen a year ago.
RIN prices have also been surging. 2020 biodiesel RINs are trading just under 69 cents today, 68.5 cents was the last trade recorded. This is up 22.75 cents, or 49 percent, per RIN from March 13. Ethanol RINs have seen a more drastic percent change. The 2020 ethanol RIN is up 21.75 cents, or 88 percent, since March 13 and closed today at 46.5 cents.
The California LCFS credit has not followed RIN…
05.03.2024
Biodiesel imports fall to 8-month low in March; exports rise to 3-month high
Biodiesel imported into the US fell in March for the first time in four months while biodiesel exported from the US reached a three-month high.
Import demand from...
05.03.2024
BFT, soybean oil weekly average prices tumble
For the week to Friday, prices were broadly lower compared with the prior week’s average. Packer bleachable fancy tallow was down by 2.2% from the prior week’s average on...
05.03.2024
US animal protein prices remain under pressure; soymeal rises
US animal protein prices were mixed in the week to Friday May 3 but showed no large movements, with multiple market participants traveling for the Petfood Forum in Kansas...