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...
The market was quiet to close out the week with no changes reported. For the week, prices were steady to higher on most products. The weekly average for Chicago packer BFT was up just shy of 1 percent and Missouri River CWG closed the week at 1.2 percent over last. The big gains came from the vegetable oils with distiller’s corn oil up 3.7 percent from last week and soybean oil up 8.5 percent from the week prior. Since Monday, the nearby soybean oil futures market is up over four cents per pound. Drought in Canada is bulling up the canola markets, which will contribute to additional tightness in an overall tight veg oil complex. Stronger vegetable oil prices, as currently seen in the soybean oil market are supportive of higher fat prices. However, RIN prices and/or heating oil prices are going to have to increase as well for biodiesel producers…