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Henri Bardon
Sep 12, 20242 min read
USDA report day shows large new crops and inventories
Nothing surprising about the WASDE report today except the confirmation of large crops everywhere and ample inventories. Gasoil in...
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Henri Bardon
Sep 11, 20241 min read
Asian markets add pressure to vegetable oil weakness
BOPO (Bean Oil Vs CPO) in metric tons went nearly negative today as soft oil pressure is strong in Asia with large volumes of SFO from...
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Henri Bardon
Sep 10, 20241 min read
ICE Gasoil returns to test 2021 lows
Don't usually like to follow monthly charts but I believe it is timely to look at ICE gasoil monthly chart that seem to indicate we are...
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Henri Bardon
Sep 5, 20242 min read
Rapeseed farmers in Germany calling out double-counting
The use of UCO and advanced Biofeedstocks like POME (palm oil effluent) has been consistently displacing crop based biodiesel/HVO and...
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Henri Bardon
Sep 4, 20241 min read
EIA data: Soyoil feedstock lose attractiveness for renewable diesel
Jun report from EIA shows Soyoil continued drop in allocation as a feedstock for RD/biofuels despite increasing capacity available +7%...
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Henri Bardon
Sep 3, 20241 min read
The other EU mandate in 2025 that no one talks about!
We probably looking at the 500Kt to 1.0 Mil MT of additional Biodiesel demand in 2025 from maritime fuel. All vessels greater of 5000dwt...
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Henri Bardon
Aug 29, 20242 min read
Soyoil spikes up nearly 4% on UCO rumors
This move was nearly one standard deviation higher with oil share @41% also closing ahead of the long weekend (labor day). Beans moved...
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Henri Bardon
Aug 28, 20241 min read
South America readies for plantings
Planting season for soy will start in RGDS in a couple of weeks and despite general lack of moisture in central Brazil partigularly...
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Henri Bardon
Aug 27, 20241 min read
Vegetable oil production reaching record levels of 224.2 Mil MT
The only exception to large increases in vegetable oil has been sunflower oil. This is almost uniquely caused by the war in Ukraine. The...
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Henri Bardon
Aug 26, 20241 min read
ICE gasoil Sep/Dec backwardation down 98% from last year
How backwardation has changed the landscape of storage based markets taking floating storage to zero. Are we about to see a major change...
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Henri Bardon
Aug 21, 20241 min read
Despite tighter stocks in US distillates, China demand leads ICE ULSD to close lower
Large US distillate exports to EU causing tigher stocks in US. The main global issue with distillate is China demand. Lower refining...
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Henri Bardon
Aug 20, 20241 min read
China Biodiesel exports to EU still high despite retroactive duties
China custom data shows that Jan-Jul24 exports amounted to 668Kt which is still quite high considering that all of last year, China...
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Henri Bardon
Aug 19, 20241 min read
Record Jul/Aug flows of Diesel to Europe threatens Bio pricing
Data shows that Aug could be a record month of 13.75 Mil barrels of diesel moving to Europe from US Gulf. A lot of this has to do with...
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Henri Bardon
Aug 15, 20241 min read
BOGO down 5% today and nearly 40% in last 3 months on overall structure
Bean oil drives BOGO lower as bean oil broke technical level of 40 cents per lbs. Generally such large break in Soybean oil is often a...
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Henri Bardon
Aug 14, 20241 min read
Gasoil goes off screen at deep contango with ample supplies
not much noticed but Aug/Oct ULSD on ICE expired at -13.50/MT. NWE demand definitely an issue at the moment while supply ample as...
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Henri Bardon
Aug 13, 20241 min read
EIA data underscores growing use of Tallow by US RD/Biodiesel
Overall feedstock use was up 4.86% vs same time last year yet soybean oil use was down 6% yoy and Tallow use up +96% yoy driven mostly...
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Henri Bardon
Aug 8, 20241 min read
Palm oil returns to historical relationship to Soyoil ($100/mt discount to Soyoil)
After 4 years of extreme volatility Crude Palm Oil returns to historical relationship of $104/mt discount with Soyoil. It should be...
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Henri Bardon
Aug 7, 20241 min read
Continued weakness in China drags soybean oil lower
Lower soyoil and soybean imports by China continue to drag the complex lower yet we are still at 36% oilshare. The only bright spot for...
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Henri Bardon
Aug 6, 20241 min read
Gasoil price structure in NWE baffles traders and heads lower
Continued weakness (contango) in structure through Oct while Oct/Dec is still in backwardation makes trading gasoil quite difficult in...
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Henri Bardon
Jul 31, 20241 min read
Despite tightness in Gasoil, backwardation weakens
Flat price Gasoil is down $64/mt since jul 1 while backwardation weakens despite tighter stocks world wide. Obviously there is a demand...
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