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 only $43/mt less than last Jul 14. The flat price backwardation for FAME from Q4 2023 to Q2 2024 is $100/mt while it is $141/mt for RME and only $85/mt for UCOME. BOGO for Sep remains at +$494/mt showing how difficult it is to trade premiums in this environment where premiums trade at nearly 50% of BOGO. Rhine river issues were temporarily resolved but it appears dry conditions could return next week starting Aug 15th where much lower navigation water levels are announced.
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