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![Merry Christmas and Happy New Year](https://static.wixstatic.com/media/6e2e80_fc4ec1a724654bf393c0fef8c704a070~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_fc4ec1a724654bf393c0fef8c704a070~mv2.webp)
![Baltic Dry Index finally collapses down 40% for month](https://static.wixstatic.com/media/6e2e80_6bb209c900a243edb81e1a1c6ba17971~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_6bb209c900a243edb81e1a1c6ba17971~mv2.webp)
Henri Bardon
Dec 19, 20242 min read
Baltic Dry Index finally collapses down 40% for month
BDI finally fell 5% today, trading below 1000, reflecting the market situation for essential dry bulk cargo. The Clean Tanker Index...
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![Ethanol policies impacting Biodiesel in both EU and US](https://static.wixstatic.com/media/6e2e80_a97f90a99c594e97abd2210b192c6207~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_a97f90a99c594e97abd2210b192c6207~mv2.webp)
Henri Bardon
Dec 18, 20241 min read
Ethanol policies impacting Biodiesel in both EU and US
A 24% decline in the Soy/Corn futures ratio is alerting U.S. farmers to grow less Soy as the U.S. plans to implement a permanent E15...
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![](https://static.wixstatic.com/media/6e2e80_9e42e976338b4d7abba92271705f82b9~mv2.jpg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/6e2e80_9e42e976338b4d7abba92271705f82b9~mv2.webp)
![SAF mandate in Europe sparks interest for US exports](https://static.wixstatic.com/media/6e2e80_9e42e976338b4d7abba92271705f82b9~mv2.jpg/v1/fill/w_454,h_341,fp_0.50_0.50,q_90,enc_auto/6e2e80_9e42e976338b4d7abba92271705f82b9~mv2.webp)
Henri Bardon
Dec 16, 20242 min read
SAF mandate in Europe sparks interest for US exports
Last August, when Europe extended countervailing duties against China biodiesel and HVO imports, it specifically excluded SAF . Is it...
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![Dec Gasoil expires with heating oil screen-crack at high levels](https://static.wixstatic.com/media/6e2e80_7bfa800d9f9246afae329357ca47fae3~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_7bfa800d9f9246afae329357ca47fae3~mv2.webp)
Henri Bardon
Dec 11, 20242 min read
Dec Gasoil expires with heating oil screen-crack at high levels
Screen crack is still $23/Brl where it has been since week 44. This may explain the generally ample offers of distillate globally from...
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![Palm oil gives up nearly one std deviation as Indonesia backtracks](https://static.wixstatic.com/media/6e2e80_10c182d410074d56bb59c4808bdb3061~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_10c182d410074d56bb59c4808bdb3061~mv2.webp)
Henri Bardon
Dec 10, 20241 min read
Palm oil gives up nearly one std deviation as Indonesia backtracks
Palm oil remains the highest yielding and lowest cost to produce compared to any comparable vegetable oil, despite being the most...
81 views0 comments
![Bean oil premium Vs Palm oil reaches -$200/mt](https://static.wixstatic.com/media/6e2e80_457b1fe38ec34d0297bf30ead4d95b47~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_457b1fe38ec34d0297bf30ead4d95b47~mv2.webp)
Henri Bardon
Dec 9, 20242 min read
Bean oil premium Vs Palm oil reaches -$200/mt
We have been in uncharted territory as Indonesia pushes forward with their 40% blending requirement by Jan1 despite the fact that Palm...
67 views0 comments
![Gasoil and Biodiesel backwardation collapses in Europe](https://static.wixstatic.com/media/6e2e80_8fcbb214075b4c81b6223fcc651ebeaa~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_8fcbb214075b4c81b6223fcc651ebeaa~mv2.webp)
Henri Bardon
Dec 4, 20242 min read
Gasoil and Biodiesel backwardation collapses in Europe
News of a surge in ULSD exports from Russian Baltics in December to 1.4 million metric tons, a 23.2% increase over November, took the...
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![US Biodiesel and RD industry frozen by Admin decision on 45z](https://static.wixstatic.com/media/6e2e80_45ca947b3d2d40dfbca4385a38bc8ce9~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_45ca947b3d2d40dfbca4385a38bc8ce9~mv2.webp)
Henri Bardon
Dec 3, 20241 min read
US Biodiesel and RD industry frozen by Admin decision on 45z
This is rather a surprising move by Admin as it essentially freezes all activities of the industry, as without BTC or 45z guidance...
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![EIA Sep data shows y-o-y drop in Bio/Renewable Diesel feedstock](https://static.wixstatic.com/media/6e2e80_889e7ed3125746709b9b5060514ca3f2~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_889e7ed3125746709b9b5060514ca3f2~mv2.webp)
Henri Bardon
Dec 2, 20241 min read
EIA Sep data shows y-o-y drop in Bio/Renewable Diesel feedstock
Although today's released data is nearly 2 months old and excludes UCO, it shows trends in RD/Biodiesel that indicate an overall drop of...
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![D4 RINs collapsing 25% in last 2 weeks](https://static.wixstatic.com/media/6e2e80_bff4a660e7664338bd807842cf0d5847~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_bff4a660e7664338bd807842cf0d5847~mv2.webp)
Henri Bardon
Nov 25, 20242 min read
D4 RINs collapsing 25% in last 2 weeks
Since Nov 11, we have come down from 0.79c/gal to 0.588c/gal as Congress will not address the issues with the IRA or expiring BTC during...
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![Soyoil real story is the strong US$](https://static.wixstatic.com/media/6e2e80_430002a7615e40e0800c9150b0ac214f~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_430002a7615e40e0800c9150b0ac214f~mv2.webp)
Henri Bardon
Nov 22, 20241 min read
Soyoil real story is the strong US$
DXY hit a one-year high of 107.49. Cash prices of commodities in general are under pressure in destination markets due to strong US$,...
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![BOGO dives down 34% in 10 days to +$269/mt](https://static.wixstatic.com/media/6e2e80_6deeb8aa504a4900941ccd3591325380~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_6deeb8aa504a4900941ccd3591325380~mv2.webp)
Henri Bardon
Nov 20, 20241 min read
BOGO dives down 34% in 10 days to +$269/mt
This move appears dramatic, but BOGO (Bean Oil-Gasoil) is still up 54% in the last 3 months. Volatility in vegoil and certainly Gasoil...
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![BOPO drops to -$127/mt as Palm bounces and Bean oil drops](https://static.wixstatic.com/media/6e2e80_84f9acb4601b4c3eb465bd556d2e002b~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_84f9acb4601b4c3eb465bd556d2e002b~mv2.webp)
Henri Bardon
Nov 19, 20241 min read
BOPO drops to -$127/mt as Palm bounces and Bean oil drops
We have not seen BOPO at such a level ever as the biodiesel use by Indonesia is a new factor. Palm oil is now prohibitively priced for...
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![POGO finally breaks and Gasoil backwardation spikes](https://static.wixstatic.com/media/6e2e80_c68eea30ccb840d4a67edcaaa9660db8~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_c68eea30ccb840d4a67edcaaa9660db8~mv2.webp)
Henri Bardon
Nov 18, 20241 min read
POGO finally breaks and Gasoil backwardation spikes
Palm breaks by 3%, yet gasoil recovers by 2% as technical traders eye the POGO chart gap of +150-200. Caution advised. Meanwhile, in the...
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![China adjust VAT rebates, soyoil rises on wishful thinking](https://static.wixstatic.com/media/6e2e80_ac669fde3dca49b5aafe73ec57f1966a~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_ac669fde3dca49b5aafe73ec57f1966a~mv2.webp)
Henri Bardon
Nov 15, 20241 min read
China adjust VAT rebates, soyoil rises on wishful thinking
The Chinese customs have now adjusted various export rebates resulting in UCO rebates moving from 13% to 0%. This makes it more expensive...
28 views0 comments
![UDB delays puts at risk 2025 EU maritime and SAF mandates](https://static.wixstatic.com/media/6e2e80_b18a533cc7884ef3bc6be6cd187663fe~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_b18a533cc7884ef3bc6be6cd187663fe~mv2.webp)
Henri Bardon
Nov 14, 20241 min read
UDB delays puts at risk 2025 EU maritime and SAF mandates
Delays in the implementation of the UDB (Union Data Base) to replace the currently used Nabisy database which is broadly used by...
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![BOGO led by Soyoil retreats 19.5% in one week](https://static.wixstatic.com/media/6e2e80_77f6d724d1f34c4f9bb1e916b88b3dec~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_77f6d724d1f34c4f9bb1e916b88b3dec~mv2.webp)
Henri Bardon
Nov 13, 20242 min read
BOGO led by Soyoil retreats 19.5% in one week
As ICE Gasoil expired at $664.50 with much fewer deliveries than expected, it should be noted that Oct expired at $706. The trend for...
16 views0 comments
![New Admin nominates new EPA leadership, Soyoil heads lower](https://static.wixstatic.com/media/6e2e80_6be853830d4349eebd310fedd22da374~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_6be853830d4349eebd310fedd22da374~mv2.webp)
Henri Bardon
Nov 12, 20242 min read
New Admin nominates new EPA leadership, Soyoil heads lower
Nomination of Lee Zeldin to EPA sends chills on Soyoil down one standard deviation today as he was a supporter of an RFS rewrite....
77 views0 comments
![Palm continues to buoy the vegetable oil complex](https://static.wixstatic.com/media/6e2e80_54d3b1c23e644f05a17e80fea24466ff~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_54d3b1c23e644f05a17e80fea24466ff~mv2.webp)
Henri Bardon
Nov 11, 20241 min read
Palm continues to buoy the vegetable oil complex
Palm is now at +472.85 over ICE gasoil as consumers switch origin to Malaysia from Indonesia, dropping stocks by about 6.3%. Malaysia...
35 views0 comments
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