RBD Soybean Oil Premium to Crude Soybean Oil Reaches 47-Week High
Fastmarkets’ valuation of biomass-based diesel margins moved lower as soybean oil prices continued to rise at a more rapid pace than biodiesel. Soybean oil values climbed over two percent during the week ending July 14, and are up nearly 15 percent month over month. The rapid rise in feedstock cost has pushed margins into the red for most producers, reducing margins to levels not seen since 2021. Drought conditions across much of the Midwest, along with softer energy prices imply continued headwinds for biodiesel profitability.
The average upper Midwest B100 price increased from $5.39 to $5.48 per gallon as biodiesel producers reported stronger prices for the third time in four weeks. The price increase was unable to keep pace with the rise in soybean oil cost, adding to margin difficulty.
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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...