Several factors appear in-play with glycerin values, all having an impact on the market. Biodiesel blending and cold freeze demand have seen market dynamics shift in recent weeks, while the export market has remained unchanged.
Biodiesel blending slowed in January. Recent EPA EMTS data shows domestic biodiesel blending was 122 million gallons in January, 10 percent below December. This reduced the supply of glycerin to the market, as glycerin is a by-product of biodiesel production. Despite the decline, January biodiesel blending was still two percent above January 2023 blending, indicating a somewhat healthy market.
Glycerin purchasers within the cold-freeze segment of the market remained active but with interest fading due to the lack of colder weather across the Midwest and Northeast. One trader noted that without another cold snap, cold-freeze purchasers will start allowing their tanks to empty by March.
…
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...