It is not a surprise that Europe is shipping increasingly high levels of Biodiesel to USA. In fact through end of May shipments are +148% over last year. Now total EU Biodiesel exports through end of May are nearly 1 Mil MT or up 21%. FAME 0 still trading in Northwest Europe at nearly $200/MT below BOGO at +392.50 over ICE Gasoil after a volatile session on Friday. Gasoil traded well above its 50 and 200 dayWMA dragging premiums lower and closing at a level of $871.25/MT close to levels we last saw at the end of January.
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