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…
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.
11.22.2024
Gulf prices average higher despite weeklong declines in SBO
For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...
11.22.2024
Bloodmeal largest price mover week on week; November cattle on feed higher
US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...