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The national diesel average fell 16.4 cents to $5.268 a gallon for the week of July 25, the steepest decline since October 2008. Prices have dropped 54.2 cents over five weeks from the all-time high of $5.81.
WTI crude was trading near $95, down from about $102 a week earlier.
Falling diesel and crude reduce transport and processing costs for feed ingredients and shift the energy input backdrop lower. The move follows the recession-driven crude sell-off, so it mainly reflects broader energy weakness rather than a grain-specific change.
stage.logisticsmgmt.comLM StaffJul 26, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
