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Biodiesel Crush margin down nearly 50% in last 3 months

With ICE Gasoil down nearly 8% on the day and Heating oil nearly 4%, difficult to tell where this market is going but margins for producers are simply getting crushed. Bean oil finally understood this late in session and is now down 2% but probably needs to move much lower. FAME premiums in Europe are now back into backwardation q1 to q2 that was -$70/mt and now is flat to +$20. It is only in US that Biodiesel or RD can still survive for the moment as long as RINs hold up as Jun 23 D4 have taken a dive down to 1.55 from their 1.875 high on Nov28.

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