Spot biodiesel values are flat this morning, holding near unchanged throughout the week in thin markets.
"Holiday weeks typically start with normal interest then fade as (the) week goes on," a trade source said. "A lot of people are taking an extended weekend." Other sources agree.
"The industry is kind of in a holding pattern," commented Jerrod Kitt, strategist for the Linn Group, Chicago, Illinois, referring to industry awaiting legislative action on the renewal of the expired $1 gallon blender's credit. "Other than that it's kind of business as usual."
The latest bid/ask range this morning was $3.65 to $3.75 per gallon for Soy methyl ester biodiesel at both Chicago and New York Harbor, flat on the session and week. Houston SME B100 biodiesel were pegged at $3.65 per gallon, unchanged for the session and week.
Myke Feinman can be reached at email@example.com.
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