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3:2:1 Crack margins explode higher but Biodiesel crush margins get hammered

The moves today yielded little trade as everyone recovering from the violent early Monday move in ICE gasoil and we are still >3% higher. Bean oil was also much higher at +4.3%. FAME 0 premium moved massively today dropping to +$443 from last week's +526. Backwardation also weakened massively for except for UCOME (waste) that remains at +94 flat price and +80 on premium for Q3/Q4. Screen crush margin has now reached negative $2.09 per gallon making any future biodiesel/RD crushing uneconomical.

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