04.26.2024
P66 Rodeo to begin producing SAF in Q3
Phillips 66 brought its long-awaited Rodeo Renewable Energy Complex online during the first quarter of 2024, but it is not producing sustainable aviation fuel (SAF) yet, the company said...
Trading was quiet to close out the week with no trading reported. Bloodmeal prices were indicated higher for next week, but no offers or bids were officially out today. MBM prices were also indicated higher for next week but again, there were no firm bids or offers in the market. October soybean meal prices are up 7 percent over the last week, which is supportive of higher prices in the near term. The prior three year average for ruminant MBM FOB Missouri River to nearby soybean meal for September is 77 percent, which implies a market value of $240.50 when applied to today’s soybean meal price. Applying the prior three-month (June – Aug) average relative price of 59 percent to today’s soybean meal price implies a value of $184.
Figure 1.