WTI Crude and ULSD prices edged one percent lower last week. WTI values dipped from $61.42 per barrel to$ 60.97 and ULSD slipped a penny per gallon to $1.81. Soybean oil prices fell three percent, but the decline conceals the volatility seen in vegetable oils. Soybean oil price dropped from 53.87 cents per pound to 52.48, but not before prices climbed to 57.48 midweek.
Feedstock (soybean oil) prices fell more than ULSD prices for the week, which allowed the bean oil/heating oil spread (BOHO) to narrow from $2.14 per gallon to $2.05. Biodiesel RINs have been trading near all-time highs. On March 16, the 2021 biodiesel RIN reached $1.51 surpassing its previous high of $148.50 in July of 2013. Last week, some of the pressure was taking off biodiesel RIN values with the BOHO moving lower. The 2021 biodiesel RIN declined three…
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...