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Bank liquidity impacting open interest in all commodities
Difficult not to look at this Brent chart and see that something ominous has happened. How could a liquidity crisis engineered by the...
Henri Bardon
Mar 27, 20231 min read
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Gasoil finally breaks below 200wma as bank contagion spreads
As feared demand issues in Europe finally push Gasoil 3% lower and below its 200wma. Although we saw a rebound in Bean oil overnight that...
Henri Bardon
Mar 24, 20231 min read
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SouthAm Soy weakness now spreads misery in vegoil prices
Very weak premiums in both Soybeans and Soyoil add to the weakness of the entire vegetable oil sector. The cheapest oil in Europe,...
Henri Bardon
Mar 23, 20231 min read
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Drop in Gasoil keeps BOGO higher while biodiesel premium continue to collapse down 54% since Feb27!
Backwardation finally collapsing in Fame 0 with a drop of $75/mt overnight and premium trading down to +249 over ICE Gasoil in Northwest...
Henri Bardon
Mar 22, 20231 min read
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Rapeseed Oil now Euro/MT140 below Soy Oil and Sunflower Oil
Although Palm is not considered a soft oil, it is also now priced euro/mt 100 above Rapeseed oil which is the first time in 25 years that...
Henri Bardon
Mar 21, 20231 min read
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Both Gasoil and Bean oil start trading below 200wdma...
Usually when Gasoil drops below its 200day, we can see scope for another $200/mt move below it - my target is $500/mt. What we are...
Henri Bardon
Mar 16, 20231 min read
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Used Cooking Oil biodiesel demand slows dramatically
Used Cooking oil Biodiesel (UCOME) demand slows dramatically in Europe as strikes in France take their toll with almost 5 refineries out...
Henri Bardon
Mar 14, 20231 min read
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Combination of USD liquidity issues and SAmerica Monster crop pressure pricing
What seems to escape many is that SouthAm exporters are really keen to export this monster crop. Projected exports for Brazil alone are...
Henri Bardon
Mar 14, 20231 min read
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Markets in Turmoil: Bean oil falls $40/mt below FAME0 in EU
Mar BOGO expired at $459 while FAME 0 trading spot in Northwest Europe at +440 for delivery through Apr6. In the last month we have seen...
Henri Bardon
Mar 10, 20231 min read
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Bean oil fails its 200day WMDA despite Asia trade bounce
Strong Dollars and WASDE dawning of reality behind Argentina crop adjustment that barely dents world carry out of Soybeans remaining at...
Henri Bardon
Mar 9, 20231 min read
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Henri Bardon
Mar 8, 20230 min read
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Rip tide of war in Europe affecting demand in Biodiesel
Pretty much all Biodiesel prices in Europe reflect poor demand with all grades including summer grades trading $30-40/mt below average of...
Henri Bardon
Mar 7, 20231 min read
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Vegetable oils recover slightly but trend remains lower
Harvest in Brazil now in excess of 50% and concerns on Argentina crop has had little impact. Premiums on Soybeans FOB Brazil has...
Henri Bardon
Feb 24, 20231 min read
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Collapse of backwardation in Gasoil and Bean oil continues
We were looking at $135/mt backwardation from Mar to Dec 2023 in diesel in NorthWest Europe and are now looking at less than $40/mt. We...
Henri Bardon
Feb 20, 20231 min read
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Changes in Global oilseeds stocks (-3%) have resulted in massive price increases (+81%) since 2020
Soybean stock to use ratio dropped to 22% in Mar 2021 yet we are now back to 27% stock to use since that low, or up 5% yet prices have...
Henri Bardon
Feb 17, 20231 min read
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Baltic Dry index dives as does Heat cracks as world economy slows
BDI made a new low at 541 (on 3Nov of 2009, it made a low of 700). Although this is dry cargo, it is a good reflection of world economy...
Henri Bardon
Feb 16, 20231 min read
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Soybean oil breaks down as we approach 50% mark of Soybean harvest in Brazil
We are sitting barely above the 200 day and Paranagua soy oil premium collapsed overnight by more than a 100 points with bids 100 points...
Henri Bardon
Feb 14, 20231 min read
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Heating Oil crack holds-on above $40/Brl as Gasoil rebounds almost $65/MT vs last week in NWE
Hard to keep everything rationale with a changing war narrative to now the war of the worlds. Gasoil has rebounded solidly in Northwest...
Henri Bardon
Feb 13, 20231 min read
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March BOGO is down 24% in last 3 months while both Gasoil and Bean Oil curve collapses
BOGO has recovered somewhat this week after the massive drop of gasoil last week but a lower trend for BOGO remains firmly in place. The...
Henri Bardon
Feb 9, 20231 min read
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Is Illinois State SAF tax credit of $1.50 per gallon the new Splash & Dash?
Illinois has passed a bill that would provide a State tax credit of $1.50 per Gallon of SAF blended with limitations of 10 mil gal of...
Henri Bardon
Feb 8, 20231 min read
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