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...
Soybean Crush Falls Below Analyst Expectations
USDA April crush data was slightly below expectations and with the data previously released by the National Oilseed Processors Association (NOPA). Per the USDA, 188.2 million bushels of beans were crushed during April, resulting in 2.0 billion pounds of oil and 3.77 million tons of meal. The April soybean crush was 10 percent below the March crush and 7.4 percent under the April 2020 crush. Crude oil production declined 10.4 percent and soybean meal output was off 9.7 percent from March output.
The April crush fell below analyst estimates were expecting the crush to be 171 million bushels. Estimates were in the range of 170 to 173 million bushels.
Soybean meal and soybean oil stocks fell to a four-month low. April meal stocks of 417,603 tons were 0.53 percent below March but 22 percent over April 2020 levels. Crude soybean oil stocks of 1.81 billion pounds were 2.6…