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Biodiesel Crush margin volatility ahead of RVOs doesn't disappoint

Significant drop in crude and Heating oil are crushing biodiesel margins. Soyoil remains steady despite record low FOB premiums for Soyoil in South America. RVOs are scheduled to be out shortly after Thanksgiving - next week which is keeping RINs strong. FAME values in Europe higher despite higher gasoil but that may not last and possibly weaker UCOME values in Europe more reflective of this as UCO FOB China trades now at just under $100/mt premium to PME FOB Indonesia but still $200 over Palm oil. Elephant in the room is current weakness in crude sustainable ahead of OPEC+ meeting in early Dec.

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