Spot market trading was sluggish on Tuesday due to weak margins and talk of a slowdown in U.S. renewable diesel production due to upcoming plant downtime. Renewable Identification Numbers (RINs) also dropped again on Monday. Crude corn oil indications in the Midwest were reported in a range from the mid- to upper 50 cts/lb.
“RBD soybean oil is definitely under some pressure, but it feels like we’ve found a floor,” said one trader. Demand from the food and biodiesel/renewable diesel sectors for soybean oil and other feedstocks like corn oil has been lighter than expected. Margins have been in the doldrums, and many of the largest producers are reportedly well covered through the first quarter of 2024.
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09.17.2024
US glycerin prices rangebound amid market uncertainty
The US glycerin market remained rangebound in the week to Tuesday September 17, with prices for 80% crude and kosher crude glycerin steady to slightly higher. Biodiesel producers are...
09.17.2024
US animal fats and oils mostly stable; CWG edges higher on strong demand
The US animal fats and oils markets were stable to slightly higher on Tuesday September 17, with minimal trading as some sources cited “well-covered” positions for the month.
09.17.2024
US porcine, ruminant bloodmeal prices fall; USDA slightly raises forecast for GCAU count in 2024/25 [corrected]
Prices were rangebound for most items on the US animal proteins market on Tuesday September 17. The exceptions were bloodmeal in the Missouri River, Texas Panhandle and Indiana markets,...