Biodiesel prices soaring in Europe, causing backwardation for Aug/Sept

In Europe, the backwardation of biodiesel in Europe is the steepest structure development seen in recent memory, with $100 separating August and September thanks to tight supplies and increasing demand. For physical trades, August loading had a premium of $315 per metric ton compared to September loading at $210/ton. CME clearing house showed a $80 gap for the two months.