Brazil to no longer hold biodiesel auctions as of January

In Brazil, Platts reports there were no longer be biodiesel auctions held to supply biodiesel for the country’s 10% blending mandate but instead will move to a direct-sales contract model this month. The law originally meant for the blend to be 14% by March 2022 but the CNPE ruled in late November to keep the level at 10% for all of 2022 due to high soy prices, yet in early December Platts assessed FOB Paranagua soybean prices for January shipment at 480 points above CBOT compared to 740 points at the same point in 2020.