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Henri Bardon
May 29, 20241 min read
Gasoil weakness continues while biodiesel margins still well supported on both sides of the Atlantic
Gross margin on Biodiesel is still well supported in NorthWestEurope on FAME0 is at $255/mt while on RME it is $160/mt. Soyoil being the...
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Henri Bardon
May 21, 20241 min read
How Will the Resumption of ULSD Contango to Sep Impact Biodiesel Premiums?
Contango to Sep (driving season) is now back to -$6/mt while Sep/Dec is backwarded by $8.25/mt which is a rather complex structure to...
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Henri Bardon
May 20, 20241 min read
BOGO bounces back $50/mt after surprising NOPA crush numbers
Crush numbers in the United States for April were disappointing coming in much lower than trade guesses at 166 Mil Bushels (a 3 year low)...
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Henri Bardon
May 15, 20241 min read
UCO exports from Asia on pace to reach 2.8 Mil Metric Tons/year
Interestingly to note that Q1 2024 exports of Used Cooking Oil from Asia reached nearly 700K Metric Tons in Q1 with US taking an...
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Henri Bardon
May 14, 20241 min read
BOGO drops 13% as soyoil makes one standard deviation adjustment
BOGO is now down 17.4% in last 3 months with most of the drop achieved only today after the fake rally of last friday. Expect further...
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Henri Bardon
May 13, 20241 min read
Rumors abound for Soyoil despite fundamentally heavy markets
Don't usual like to comment on Mondays as markets typically difficult to measure; however, Friday sudden rally in Soyoil just before May...
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Henri Bardon
May 9, 20242 min read
BOGO prints +165 heading South as Soyoil testing lows
Hate to say it but that BOGO chart is just not looking good as BOGO has been down nearly 30% in last 3 months ending at +165. Clearly...
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Henri Bardon
May 8, 20241 min read
Rain starting to reduce crops in both North/South hemisphere
Large amounts of rain in Europe during April has reduced what otherwise would be a bumper rapeseed crop. Similarly tail end of Southern...
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Henri Bardon
May 7, 20241 min read
Diesel contango widens to double digit through Sep
Golden week in Asia is over and yet ICE gasoil cracks are unchanged but product contango is much wider led by Europe ICE gasoil. Gross...
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Henri Bardon
May 2, 20241 min read
US trend reduction in Soyoil use for Renewable Diesel continues
EIA released Feb24 data yesterday May 1 and shows continued trend of reduced use of Soyoil (now 31%) with notably Tallow usage increasing...
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Henri Bardon
May 1, 20241 min read
Diesel develops unusual driving season contango
Easing of Russian Banks sanctions by US treasury on energy products has had its desired effect. Everyone now scrambling for finding...
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Henri Bardon
Apr 29, 20241 min read
Diesel screen crack margin dive in quiet markets
The fact that gasoil inventories rose again to 2.18 Mil MT in ARA not helping the bearish mood. In Asia distillate markets were quiet...
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Henri Bardon
Apr 25, 20241 min read
Rapeseed oil rips higher eliminating Biodiesel margin
Despite excellent crop conditions reported, prices of Rapeseed oil FOB Dutch mill reached 1000Eur/Mt bringing spot replacement margin to...
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Henri Bardon
Apr 16, 20241 min read
Soyoil stocks in US up 68% since Oct23 so BOGO drops another 7%
Soyoil futures trading correspondingly well below 20 DWMA with little hope in sight although premiums in South America are stronger. ...
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Henri Bardon
Apr 11, 20241 min read
BOGO has crashed as Argentina enters Soy harvest
Screen BOGO for May is now down 37% in the last 3 months and down 7% just today. Meanwhile FAME 0 premium in Northwest Europe are...
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Henri Bardon
Apr 9, 20241 min read
Biodiesel crush margin follows improving diesel cracks
Diesel barge margin in northwest europe back to $26/brl although there was little changes in stocks at 2.12 Mil MT. What strengthened...
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Henri Bardon
Apr 5, 20241 min read
Renewable Diesel defies Jones act as EIA reveals extent of Barge and vessel shipments to west coast
Despite the high cost of US flag vessels between US ports, renewable diesel from the Gulf coast has been able to ship nearly 50,000BPD...
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Henri Bardon
Apr 4, 20241 min read
Spot FAME Biodiesel trading at record premium +$257 over BOGO in NWE
Although ICE gasoil backwardation has bounced a bit it is still much lower than in Feb in Northwest Europe (NWE) as there is little issue...
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Henri Bardon
Apr 1, 20241 min read
Reduced use of Soyoil trend continues in US Biodiesel/Renewable diesel
EIA published on Mar29 their latest data for Jan 2024 which seems consistent with feedstock use trend throughout 2023 towards lower...
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Henri Bardon
Mar 28, 20241 min read
Diesel cracks getting pounded 2nd day in a row
Screen Heat crack has collapsed and cracks in Asia making new lows yet little effect on flat price. USDA report tonight is adding to...
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