-- Biofuels feedstock futures closed higher on Friday, with soybeans posting moderate gains heading into the weekend, especially on new crop futures where calendar year highs were also achieved.
The Chicago Board of Trade July soybean futures contract closed 0.50% higher on Friday at $12.01 per bushel, while the CBOT July soybean oil futures contract settled 0.78% higher at 75.12 cents per pound.
On Thursday, the July ethanol futures contract on the Nymex ended 1.59% lower at $2.01 per gallon.
Ethanol's performance this past week was mixed, according to The Digest's weekly price assessments.
Its Low Carbon Fuel Standard value of $0.13 per gallon remained compared with the previous week. Its energy value of $0.74/gal and Renewable Fuel Standard value of $1.13/gal were flat from a week ago. Also, the retail price of $2/gal was unchanged from a week ago.
Rhett Montgomery, DTN analyst, said traders built in weather risk on Friday, amid a Midwestern frost threat for the weekend.
"The market reflected an early dose of weather risk to close this week, with cold temperatures overnight throughout the Midwest causing frost, and another round possible for next week as well. Given the record-fast start to planting thus far this season, there is some concern that emerging soybeans (8% of the crop as of last week) could be at risk," Montgomery said in a daily note.