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.
Organic soybean meal prices have remained stable. Fastmarkets assessed organic soybean meal in South Central Pennsylvania at $840 per short ton. Midwest deliveries were marginally higher, with an $850 per ton midpoint, according to Fastmarkets.
Merchandisers said that despite robust imports there are few offers from Western or Eastern Africa. Fastmarkets
Most of the recent imports of organic soybean meal are from Turkey, but some previously contracted lots continue to trickle in from Africa.
The decline in the price of organic soybean oil has made it challenging for US domestic organic crushers to purchase organic soybeans and generate a solid return on their…