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.
North Dakota Soybean Processors (NDSP) is a step closer to starting operations at its new $400 million soybean crushing facility in Casselton, North Dakota, following the first deliveries of soybeans to the plant this week, the company said on Thursday July 18.
A joint venture between Minnesota Soybean Processors and Louisiana-based CGB Enterprises, the NDSP plant will be able to crush approximately 42.5 million bushels of soybeans per year, with full operations likely to begin in the coming months, before the end of 2024.
The NDSP facility will be the second largest of its kind in North Dakota after the Green Bison crush plant — a joint venture between ADM and Marathon Petroleum Corporation that opened in September 2023 with a processing capacity of 150,000 bushels a day.
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