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![Backwardation in NWE Gasoil breaksdown $30/mt as flat price crashes 5%](https://static.wixstatic.com/media/6e2e80_fc743a8a0d584fd9b151faa14a338498~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_fc743a8a0d584fd9b151faa14a338498~mv2.webp)
Henri Bardon
Oct 6, 20231 min read
Backwardation in NWE Gasoil breaksdown $30/mt as flat price crashes 5%
Biodiesel premium move $75/mt higher in ARAG to +345 while Dec BOGO is +408. This is the narrowest spread we have seen in months btw FAME...
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![Harvest progress at 25%, D4 RINs stay below $1 but Biodiesel crush margin takes a pause](https://static.wixstatic.com/media/6e2e80_bd0fbb715ca24b84913d14523e47ffc1~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_bd0fbb715ca24b84913d14523e47ffc1~mv2.webp)
Henri Bardon
Oct 4, 20231 min read
Harvest progress at 25%, D4 RINs stay below $1 but Biodiesel crush margin takes a pause
Screen Margins for Biodiesel have improved nearly +60% in last 3 months but Diesel/Gasoil rally finally took a pause. Harvest progress...
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![unprecedented low water levels for Navigation on both side of the Atlantic: Mississippi & Rhine](https://static.wixstatic.com/media/6e2e80_537aa682d3bb4d95aef29e1947d0d31e~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_537aa682d3bb4d95aef29e1947d0d31e~mv2.webp)
Henri Bardon
Oct 3, 20231 min read
unprecedented low water levels for Navigation on both side of the Atlantic: Mississippi & Rhine
Don't think I can remember a situation where both US and Europe waterways were so hampered by low water navigation levels although it is...
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![Harvest weather in US excellent while Europe faces further Rhine navigation issues](https://static.wixstatic.com/media/6e2e80_f53a030087a3496d8b4c2fce1943178d~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_f53a030087a3496d8b4c2fce1943178d~mv2.webp)
Henri Bardon
Sep 28, 20231 min read
Harvest weather in US excellent while Europe faces further Rhine navigation issues
Seems both Europe and upper Mississippi facing low water navigation issues putting strains on logistics. Winter Biodiesel RME is showing...
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![Renewable diesel production breaks records with RINs diving to $1](https://static.wixstatic.com/media/6e2e80_9e6b706b505d4cdab5265bf6d959abff~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_9e6b706b505d4cdab5265bf6d959abff~mv2.webp)
Henri Bardon
Sep 25, 20231 min read
Renewable diesel production breaks records with RINs diving to $1
As predicted Aug RINs biomass generation reaches a yearly 5.04 Billion Gal or 98% of this years mandate with 57% of this total accounted...
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![Palm Oil, the unwanted biofuel feedstock, is trading at steep discount to Gasoil](https://static.wixstatic.com/media/6e2e80_33c8f6f430f24c508e573e0cf6d85bde~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_33c8f6f430f24c508e573e0cf6d85bde~mv2.webp)
Henri Bardon
Sep 24, 20231 min read
Palm Oil, the unwanted biofuel feedstock, is trading at steep discount to Gasoil
Palm oil was already trading well below its 200day dwma and still looks like it is headed much lower. High stock levels ahead of peak...
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![Biodiesel premium collapsing in Europe as Gasoil has spiked +46% in last 3 months](https://static.wixstatic.com/media/6e2e80_1f93cc94bea345628ce731920bb95480~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_1f93cc94bea345628ce731920bb95480~mv2.webp)
Henri Bardon
Sep 11, 20231 min read
Biodiesel premium collapsing in Europe as Gasoil has spiked +46% in last 3 months
FAME and UCOME premium over gasoil in Northwest Europe dropped to +210 and +535 respectively on the spot market which is 46% less for F0...
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![](https://static.wixstatic.com/media/6e2e80_61d0ac03e9b34b0c9df44d60027a7e3e~mv2.jpeg/v1/fill/w_250,h_250,fp_0.50_0.50,q_30,blur_30,enc_auto/6e2e80_61d0ac03e9b34b0c9df44d60027a7e3e~mv2.webp)
![Germany Biodiesel continues to be plagued by poor navigation & high backwardation on spot market](https://static.wixstatic.com/media/6e2e80_61d0ac03e9b34b0c9df44d60027a7e3e~mv2.jpeg/v1/fill/w_454,h_341,fp_0.50_0.50,q_90,enc_auto/6e2e80_61d0ac03e9b34b0c9df44d60027a7e3e~mv2.webp)
Henri Bardon
Sep 7, 20231 min read
Germany Biodiesel continues to be plagued by poor navigation & high backwardation on spot market
with Kaub water levels headed down again by next week, we are going to see continuing navigation problems on Rhine and continued reliance...
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![Renewable Diesel Capacity grows +12% in Jun which is+ 26% YTD](https://static.wixstatic.com/media/6e2e80_732ac733b2b54bf6985411a00ddc6c51~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_732ac733b2b54bf6985411a00ddc6c51~mv2.webp)
Henri Bardon
Sep 6, 20231 min read
Renewable Diesel Capacity grows +12% in Jun which is+ 26% YTD
The incredible growth in Renewable Diesel (RD)capacity in US is impressive but despite conventional Biodiesel nameplate capacity...
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![US imports reach 543K MT of UCO for Renewable Diesel production through end of Jun](https://static.wixstatic.com/media/6e2e80_c5372eb2cd30403d98f115214d4a21b2~mv2.png/v1/fill/w_454,h_293,fp_0.50_0.50,q_95,enc_auto/6e2e80_c5372eb2cd30403d98f115214d4a21b2~mv2.webp)
Henri Bardon
Aug 31, 20231 min read
US imports reach 543K MT of UCO for Renewable Diesel production through end of Jun
China Used Cooking Oil imports account for 233Kt of this amount with the rest coming from Australia, South America and Canada. Renewable...
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![RINs drop as July RINs generation confirms over-generation](https://static.wixstatic.com/media/6e2e80_81018d0a80b94a729594dd2052fa3892~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_81018d0a80b94a729594dd2052fa3892~mv2.webp)
Henri Bardon
Aug 23, 20231 min read
RINs drop as July RINs generation confirms over-generation
1.98 Billion RINs were generated in July which is 16% higher than last year considering that RVO (Renewable Volume Obligation) have...
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![Gasoil (Diesel) backwardation spiking through April24 at $/MT108.50](https://static.wixstatic.com/media/6e2e80_f57a274f927a4554ba72ffd79314555d~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_f57a274f927a4554ba72ffd79314555d~mv2.webp)
Henri Bardon
Aug 20, 20231 min read
Gasoil (Diesel) backwardation spiking through April24 at $/MT108.50
No other way to state but "Houston there is a serious problem here" for Northwest Europe Diesel supply. This is not being helped by...
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![EU orders registration of all imported biodiesel cargo from China](https://static.wixstatic.com/media/6e2e80_86590f0f75664c3bbd533695ec3ccbb5~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_86590f0f75664c3bbd533695ec3ccbb5~mv2.webp)
Henri Bardon
Aug 17, 20231 min read
EU orders registration of all imported biodiesel cargo from China
Looks like EU producer's complaints finally yielded some results with EU Commission although no evidence has been shown publicly to...
120 views0 comments
![Insane backwardation in US Bean oil while SouthAmerican premiums making new lows](https://static.wixstatic.com/media/6e2e80_3d0eebaadc5f4217804e91f0e54e11c6~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_3d0eebaadc5f4217804e91f0e54e11c6~mv2.webp)
Henri Bardon
Aug 17, 20231 min read
Insane backwardation in US Bean oil while SouthAmerican premiums making new lows
Paranagua Soybean oil for Sep is offered at -2500 showing an enormous contango in South America premiums while US Soyoil backwardation of...
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![Biodiesel Crush margins tanking, down >100% in last 3 months](https://static.wixstatic.com/media/6e2e80_18d18d1c1b0e45d2bd44f334d841800b~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_18d18d1c1b0e45d2bd44f334d841800b~mv2.webp)
Henri Bardon
Aug 16, 20231 min read
Biodiesel Crush margins tanking, down >100% in last 3 months
Despite record crack margin for fossil fuel refiners nearly $46/barrel, biodiesel margins have been weakening at significant pace. There...
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![Soybean Global Stocks excluding China now forecasted up 22.5%](https://static.wixstatic.com/media/6e2e80_febf3380b2d448b3823aee7cd7f6ee1b~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_febf3380b2d448b3823aee7cd7f6ee1b~mv2.webp)
Henri Bardon
Aug 14, 20231 min read
Soybean Global Stocks excluding China now forecasted up 22.5%
According to the latest WASDE released on Friday, soybean stocks outside of China are forecasted up +22.5% which is significant yet...
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![Diesel backwardation spikes ominously higher +666% in last 3 months](https://static.wixstatic.com/media/6e2e80_7867bcfb21af41d785711dcd2bb217bd~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_7867bcfb21af41d785711dcd2bb217bd~mv2.webp)
Henri Bardon
Aug 11, 20231 min read
Diesel backwardation spikes ominously higher +666% in last 3 months
Biodiesel FAME premiums over gasoil crash more than $70/mt to +$254 over Northwest Europe Gasoil to a flat price of $1174/mt which is...
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![As expected, refiners appeal EPA over Small Refiners Exemption (SRE) in endless battle](https://static.wixstatic.com/media/6e2e80_24e1d929d8f240d9b02a531940b3a8fb~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_24e1d929d8f240d9b02a531940b3a8fb~mv2.webp)
Henri Bardon
Aug 4, 20231 min read
As expected, refiners appeal EPA over Small Refiners Exemption (SRE) in endless battle
Although this behavior is consistent, it keeps a significant chunk of RINs liability on the books that refiners are keeping just in case...
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![Biodiesel Crush Margin for September improves this past month](https://static.wixstatic.com/media/6e2e80_8e4d9077a9d7492997d2179addaccc21~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_8e4d9077a9d7492997d2179addaccc21~mv2.webp)
Henri Bardon
Aug 2, 20231 min read
Biodiesel Crush Margin for September improves this past month
We have had an improvement of 50 c/gallon or $150/mt in screen margin but with RINs still at 1.51, both RD and Biodiesel makes sense...
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![Bean Oil Gasoil spread trading at significant premium to Biodiesel physical](https://static.wixstatic.com/media/6e2e80_72802bd24da146eaab6b225496414c45~mv2.png/v1/fill/w_454,h_341,fp_0.50_0.50,q_95,enc_auto/6e2e80_72802bd24da146eaab6b225496414c45~mv2.webp)
Henri Bardon
Jul 30, 20231 min read
Bean Oil Gasoil spread trading at significant premium to Biodiesel physical
It is not a surprise that Europe is shipping increasingly high levels of Biodiesel to USA. In fact through end of May shipments are +148%...
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