A second producer echoed this sentiment and said they have had to work a bit harder to secure feedstock to line it up with sales at the right time.
With second-quarter sales getting locked down, producers turned their attention to locking in third-quarter trades. One market participant indicated that some producers have already started working on fourth-quarter sales.
Those able to take advantage of the market have done that.
Domestic renewable diesel (RD) producers have slowed production significantly over the first quarter, with March RD output down by 22% from December. Opportune biodiesel producers, if they still had margin in operations, were able to take advantage of this, because domestic March biodiesel production was only down by 2% from December.
Not all producers agreed that market sentiment was positive.
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11.21.2024
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